Another Indian B2B company going down according to Economic Times. B2B GMV fraud clean up continues finally!

There was news sometime back about their core business shutting down. Also rumours of something up. Since then been silent. Anybody has updates https://economictimes.indiatimes.com/tech/startups/tiger-global-alpha-wave-rope-in-deloitte-to-evaluate-b2b-startup-groyyos-trading-business/articleshow/104804537.cms?from=mdr

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?

Groyyo startup

Company was inflating GMV by 60%

Another one bites the dust. Alpha Wave is too big, and this is fucked up for the ecosystem. They were really one of the heavy weights. Another big wallet with growth funding ability, just gone...

They were backed by Elevation and Accel, had raised ~$7mn Seems like getting transactions to happen was too tough, despite building a network. Getting money out of Indian SMBs, a consistently tough model. Link to post: https://www.linkedin.com/pulse/so-long-anar-farewell-reflection-nishank-jain-oifxf?utm_source=share&utm_medium=member_ios&utm_campaign=share_via

What an absolute shit show https://www.moneycontrol.com/news/technology/fraud-threats-sexual-harassment-zilingos-ankiti-bose-files-fir-against-co-founder-ex-coo-12706929.html