Sequoia India-backed GoMechanic cuts 70% jobs after ‘grave errors’ in financial reporting

Sequoia India-backed GoMechanic cuts 70% jobs after ‘grave errors’ in financial reporting

2 years ago
Anonymous $gM56WhLPcK

https://techcrunch.com/2023/01/18/sequoia-india-backed-gomechanic-faces-severe-trouble/

GoMechanic has laid off 70% of its workforce as the Sequoia India-backed startup grapples with funding crunch after the existing and potential investors found that the founders had misstated facts.

The move comes as the Gurgaon-headquartered GoMechanic, which offers auto-services such as repairing and carwashing, has been struggling to raise funds for over a year despite reaching advanced stages of deliberations with several investors.