Uber’s Blusmart investors propose a decision with a support of $ 30 million to revive it

A group of investors are considering an other $ 30 million injection plan at Blusmart in an attempt to revive the start of the Indian car operation. The operations suddenly stopped Last month, I learned Techcrunch. The proposed proposal from these current investors has fishing: it is an emergency in the co -founder of Blusmart Anmol Singh Jaggi agrees to resign.

The proposed investment will be dealt with in the form of uninterrupted debts and will aim to repair operating obligations to start operating, including suspended dues and employee salaries.

Blusmart investors with pro -loyal rights, including BP Ventures and responsibility in Switzerland, began discussing the decision last week. BP Ventures and responsibility refused to comment when contacting Monday.

Although Jaggi did not sign Blusmart’s resignation, the sources told Techcrunch that he orally agreed to resign from the Board of Directors, taking into account that he would not face any future legal action from Blusmart investors.

The founder of Gagi and Bosrott did not respond to the other, Bonnet K. Joyl, for the messages sent earlier this week.

Blusmart operations stopped last month after a Guinnsol engineering was launchedEV, the main rented and the company that subscribes to Jaggi as its co -founder. The move affected the bicycles looking for EVS, its investors, and its 600 employees, who have not received their salaries at least until March.

TECHCRUNCH has learned that a Gurugram is about 2.5 billion Indian rupees (about 30 million dollars) pending dues, which include 500 to 600 million Indian rupees of late payments for employees.

About 8,700 volts were also abandoned on the Blusmart fleet due to the suspension of its service. This can affect the health of batteries and other components on vehicles if it does not start running their service soon.

The suspension also impact on Blusmart drivers, some of whom continued In New Delhi To protest this step. Some of these drivers may see some relief, such as the EV CABS service that is based in Delhi 500 taxi rented cars by Blusmart lenders. The startup also looks to add 1,000 EV taxis currently associated with Blusmart and some of their drivers.

The current Blusmart investors do not want to lose its commercial start starting by allowing other cabin companies, including EVERA and even Uber, using their fleet on their services.

Sources told Techcrunch that investors are keen to restart service in the next three weeks. However, Blusmart’s return has some challenges. One of them is alleged corporate governance issues, in addition to those in Gensol that indirectly affect the start of operation. The Ministry of Indian Companies Affairs recently I launched a probe at Gensol and Blusmart Therefore.

Jaggi resignation from Blusmart is not as confirmed as it appears. The Indian stock exchange organizer Jaggi and his brother are resigned from Gensol in public during the launch of the investigation. However, the organizer’s direction does not apply to Blusmart, which is a special entity.

The Evertource Capital, supported by the British company BP, shared interest in purchasing Blusmart in the stagnant selling process last month, such as I mentioned for the first time By Outlet Inc42. The box suggested that startup merge with the B2B fleet operator, Lithium Urban. However, the Blusmart Council did not approve the offer as it has priced the start of the start by 60 % of its previous evaluation of $ 300 million.

TECHRUNCH learned last month that Lithium Urban is struggling as a company with increasing losses and most of its cars reach the end of their lives. A person familiar with the matter said that the original Lithium Urban’s founder, Sanjay Krishnan, gave up work. Eversource Capital and Lithium Urban did not respond to the suspension requests at the time.

The Indian Adani Group collection also showed interest in buying CAB start to use its fleet at its airports at its airports. The company held early conversations with the Blusmart panel. It already has Uber as a fleet partner.

The Adani Group did not respond to a request for comment.

However, Blusmart investors hope that startup will be in a better position to attract investments from strategies such as Eversource Capital, Uber or Adani after restarting their operations.