Legal · AI & Deep Tech

Hornet cofounder alleges illegal ousting by investor Artha Venture Fund

By Startup Enthusiast · 13 February 2026

What they do

Hornet is a blockchain forensics platform based in Kolkata, founded in 2023 by Souvik Haldar, Subhrojyoti Mondal, and Shreyan Gupta

Artha Venture Fund, the lead investor, removed Haldar as CEO, claiming he misused funds and took external employment while using company resources

Haldar alleges the removal was illegal, citing his 67% equity stake and claims of forged documents and embezzlement by Artha Venture Fund and Mondal

Hornet, a blockchain forensics and intelligence platform, is at the center of a legal and governance dispute between its cofounder and CEO, Souvik Haldar, and its lead investor, Artha Venture Fund.
Artha Venture Fund's managing director, Anirudh Damani, claimed Haldar misused seed funding, took external employment, and copied sensitive data onto personal devices.
Haldar alleges that Artha Venture Fund and cofounder Subhrojyoti Mondal conspired to illegally remove him from his role as CEO and director, despite his 67% equity stake.
Haldar filed an FIR against Damani and Mondal for holding an extraordinary general meeting (EGM) to remove him without his participation.
Artha Venture Fund responded by filing a retaliatory FIR against Haldar and stated he is no longer associated with the company in any capacity.
Haldar claims documents were forged and that a nominee director was appointed in his absence, with backdated records uploaded to the registrar of companies.
The case is under investigation, with both parties having filed FIRs against each other, and Haldar has also filed a defamation suit against Damani.

Hornet is a blockchain forensics and intelligence platform that tracks and analyzes illicit activities on the blockchain, such as fraud, money laundering, and darknet transactions.
The startup claims to work with government agencies like the Enforcement Directorate, Telangana Police, and West Bengal Police on real-time blockchain and cryptocurrency tracing.
Hornet was incubated at the Indian Statistical Institute (ISI), Kolkata, and received ₹4 Cr in seed funding from Artha Venture Fund in February 2025.
The company's services are used to support law enforcement in investigating financial crimes on the blockchain.
Hornet's technology helps identify and trace illicit transactions, providing insights into the flow of digital assets.