BluSmart’s Fire Sale Next, Startup Funding Tanks & More

BluSmart Stares At A Fire Sale

Climate-focussed PE firm Eversource Capital is in advanced talks to acquire the troubled EV ride-hailing startup BluSmart for INR 800-1,000 Cr ($90-120 Mn) — a 60% discount from its last known valuation of $300 Mn.

What’s On The Cards? Along with acquiring BluSmart, Eversource Capital plans to clear all its liabilities, including pending employee salaries — of course, if the deal goes through. 

The private equity firm plans to merge BluSmart with its existing EV portfolio company, Lithium Urban…