b capital group

Investors in Bengaluru- based healthcare and wellness startup Mojocare have found financial irregularities in the company, per a statement issued by them on Sunday.A group of investors – including Peak XV Partners (erstwhile Sequoia India), Chiratae Ventures and B Capital – had initiated a review of the company. Sequoia’s seed-stage programme Surge had backed Mojocare.The forensic audit is still ongoing, the statement added. Chiratae Ventures is the largest shareholder in the company, while B Capital has pumped the most…

Health and wellness startup Mojocare has laid off 150 to 170 staffers across roles to improve on its unit economics and better its capital efficiency, it said.“Facing difficult market conditions, we at Mojocare have had to make tough decisions to improve our unit economics. Despite our best efforts, our business fundamentals have not worked out over the past few months,” a company spokesperson said in a statement.The spokesperson added that the startup will revert to operating as a small yet robust team to figure out what…