Ofo makes staff cuts and rolls back operations (India).
The Chinese bike-sharing startup has reportedly fired staff in India and is winding up operations in all cities in the country except Pune.
Rumors of a cash crunch and large-scale layoffs in Ofo’s home and overseas branches have been circulating in the past few months.
Co-founder Yu Xin recently denied claims that the company was slashing its China workforce by half and shutting down operations in other countries.
Zhuge has raised a total of nearly US$45.3 million within two years.
American Express-backed IndiaLends raises US$10 million in series B round (India).