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).

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