![]() ![]() People close to the company confirmed the valuation. And few big democracies have slid further in the rankings of democratic freedom. It has raised $23.7 million so far, with the last round at a valuation of $67.1 million, as per Tracxn. N o country except China has propped up Russia’s war economy as much as oil-thirsty India. What To Expect In Your Inbox: Food trends, nutrition tips, top season ingredients you can use. Spoiler Alert: those amazing food images which might leave you drooling. The money: Mojocare, estimated to still have about Rs 80-100 crore in the bank, was founded in May 2021 by Ashwin Swaminathan and Rajat Gupta. Food BBC Good Food BBC Good Food DOWNLOAD Foodies, stay updated with the latest food trends, brand new recipes, new openings or launches with BBC's Good Food newsletter. Sources tell me that about 30-40 employees - including contractual staff - who are focusing on clearing the leftover inventory, remain. ![]() Tell me more: On Saturday, the company announced it was laying off 150-170 staffers across roles. ■ Investors issue joint statement on financial irregularities at the company ■ Investors appoint new CFO Ashwani Gupta for daily ops ■ Investors mandate Deloitte to start forensic audit ■ 3-4 weeks later, founders confess to inflating revenue numbers to investors Ashok Leyland 164.4 4.48 Tata Steel 114.25 0.48 Indian Oil Corp 92.08 -0.86 Bharat Electronics 125.25 2.71 GAIL India 107.55 0.47 Mint Newsletters & Email Alerts Never miss a story. ■ Founders were not ‘forthcoming’ with information sought in audit ■ Investors initiate an internal audit by Deloitte Mojocare audit trail: Irregularities in the company’s books were noticed during its internal audit for fiscal 2023, also conducted by Deloitte, the people aware of the matter said. ![]() Mojo not rising: “The legal action will be dependent on the final report, but it’s already clear that the founders lied about revenue numbers and that’s the main issue really,” a source in the firm told me. ![]()
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