NFT startup Rario founders to leave a year after $120 million funding

Rario, the cricket NFT startup, is pushing out its CEO Ankit Wadhwa and CTO Sunny Bhanot, according to people familiar with the matter, as investors including largest backer Dream11 exert greater control. The changes also eliminate many other roles, and the startup is negotiating many of the licensing deals it had signed to cut expenses. The departures follow a $120 million funding round led by Dream11 last year, when the startup was valued at about $250 million in the previous round. Wadhwa, Bhanot and Rario did not respond to requests for comment, and Dream11 declined.