Investors in Mojocare alert authorities to financial irregularities following up to 170 staff layoffs.
Investors in the healthcare startup Mojocare have reported financial problems, according to a statement from the consortium, which also includes Sequoia Surge, B Capital, and Chiratae Ventures. This announcement follows the company’s firing of 150–170 employees, or nearly 80% of its workforce. On Saturday, the layoffs were announced under the pretext of being a small corporation. According to the statement, an examination of Mojocare’s financial statements was started by the company’s significant investors. “While the analysis remains ongoing, initial findings have uncovered financial irregularities, and it has become apparent that the business model is not sustainable due to a variety…