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you'd see a lot of advertisement and aggressive PR from this company. you'd see your favorite investment influencers talking about this.
i wouldn't write this normally - but writing it out of public interest.
1. their previous round which they raised didn't come through fully
2. nobody is willing to invest in future rounds on them
with that said, there's no money coming into the company. check their financials. they are bleeding fast and have heavy losses in unit economics.
although this is pretty common in startups, the reason I am writing this - is because
they have started a crowdfunding - calling it as assure program inviting young people to invest in their program.
(all the while, the company is spending a lot in PR, sending their representatives (read as founder) in global trips when they are not even making money)
The morning context (TMC) have written scathing articles about them, but it's not enough.
they are asking you to invest approx 13.5 lakhs in an EV car and saying they'll give you 15ish something in return. a 20% IRR - trust me. you put that money in a mutual fund or somewhere else, it'll grow much beyond that.
(i mean the PR post that they wrote in LinkedIn about how an engineer bought one car conveniently failed to explain how they have a fine line in their T&C, the person who's investing should commit 10 cars) - worse part ? the company is willing to get 80% of it on loans for you.
this is serious liability. and a potential scam because there's no way they can pay you UNLESS they can raise a round which I don't think is something anyone is willing to put their money in.
they are larping on green energy ya-da-ya-da
keep this as a warning. if you put cash there, they say they'll return in 48 months lease.
not a chance. their current financials do not support that. they can never return. you'll lose your money.
and it'll be another SCAM.
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don't tell me I didn't warn you.
i warned you about that Czinese zrat CZ of binance and you can see what happened to him ;-)
have consistently warned you. will continue to warn. do your own due diligence.
the reason I am stressing on bluesmart? because they have an army of influencers who's gonna try to brainwash people into investing.
take care
note:
startups running out of cash is okay. it's common. startups trying novel ways to raise is also fine.
but this a ticking timebo*b waiting to go off - is a potential scam since their economics never support it (plus their failed rounds and their failed fund raising)
and a huge redflag? the sinking ship is not doing anything to fix it's repairs. but spending on marketing it's founder and sending them on trips and signing MOUs which they cannot honor.
these are the reasons why I chose to talk about while I typically do not talk about this.
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