https://entrackr.com/2023/07/mojocarestaresatshutdownamidscrutinyoverfinancialirregularities/

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https://entrackr.com/2023/07/mojocare-stares-at-shutdown-amid-scrutiny-over-financial-irregularities/

Looks like Mojocare may completely shut down

Software Engineer

Looks like Mojocare may completely shut down- Grapevine

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Reason given by investors on Mojocare sounds very fishy. At one end they are blaming the founder for embezzlement while on other end they are blaming market conditions and unsustainable business model for the layoff of employees. Doglapan?

Project Manager

Anything more that has come out or was the furore only for a day or two?

Any update on Mojocare?

Founder

How it happened?
-wifi turned off
-Slack disabled
-Email disabled

Mojocare laysoff their entire staff of around 200+ people

That's some crazy shit, the CEO reached out to me 3-4 months back on LinkedIn for a Managerial position. Glad that I rejected it.

Customer Success

What happened with Mojocare? What’s the scene?

Product Manager

Mojocare fraud out

VC Analyst

After GoMechanic, now Mojocare is said to cook its books. Is this a trend? and which other companies are showing similar signs?

GoMechanic, Now Mojocare

Content Strategist

They’ve been mentioned in posts here previously, this is just an official update that something was wrong

Anybody knows more of what went on there?

Tiger backed Groyyo will have to shut down its B2B/trading business

Corporate Strategist

Closure on Mojocare

- ReshaMandi has laid off its entire workforce and its website has been down for a week, coinciding with the resignation of its auditor.
- Sources indicate the company is struggling to pay liabilities and operational costs, including salaries, for several months.
- The auditor, Walker Chandiok & Co LLP, highlighted issues like revenue inflation and fake invoices before resigning last month.
- ReshaMandi owes Rs 14.16 lakh to the auditing firm and has appointed a new auditor, Suresh Kapoor & Associates, in late July.
- Despite raising over $50 million, including a $30 million Series A round, the company is facing financial difficulties and is focusing on collecting pending receivables. 

 Source: [Entrackr](https://entrackr.com/2024/08/exclusive-reshamandi-faces-complete-layoffs-website-shutdown-and-auditor-red-flag/)

ReshaMandi Faces Complete Layoffs, Website Shutdown, and Auditor Red Flag

Journalist

Heard mojocare numbers are fudged? What do you think? Something cooking?

Mojocare going the GoMechanic way?

Venture Capital

The health-tech company raised $25 million in 2022. Now their operations are shut, website deactivated. They haven't paid their employees for over 3 months. They encouraged employees to resign and brought their count down from 2000 to 200.
They even played a facade to showcase they were afloat by hiring people in Jan 2023, and moving to a larger office space. 
The employees allege the company had promised to clear the dues.

This was backed by the Kalaari capital and others. 
What's happening with health tech?

Health care start-up shut shop after raising $25 million

This is an after thought from what happened at Mojocare and Gomechanic. 

I too have been at a startup that was upto similar stuff. Was really large at one point, until everyone figured something was off. 

For me, the first year or so I never got a hint of things. But over time, as I became closer and more trusted by the founders, things became quite clear. Creation of invoices for the sake of it, recording transactions that were anyway happening in the offline world, as transactions on the platform. Basically buying invoices by giving back businesses some of the VC capital as incentives. It was all messed up.

I always thought of doing something once I figured it out, but ended up not doing it. My only action was to find new roles, and leave as soon as I could. 
I remember discussing with friends - should I reach out to journalists? The answer we came to was that it's too risky, even if done anonymously. AND, that people we know would lose their jobs if the reality came out.

Eventually, it did come out. More people lost their jobs, because in that 1 year they ended up growing more and hiring more. Maybe if I'd been a whistleblower earlier, a lot of money could have been saved, so many jobs would not be lost.

A thank you to the people who have been braver than I was.

Looks like Mojocare may completely shut down

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