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Bootstrapped Chennai-based SaaS firm Kissflow lays off 45-50 employees
Money Control
·
1y ago
Medial
Chennai-based SaaS firm Kissflow has laid off 15% of its workforce, affecting around 45-50 employees across sales, marketing, and product development. The layoffs resulted from shifting product strategies and annual performance reviews. Before the cuts, the firm employed over 400 people, with affected staff in India, the US, and the UAE. Kissflow offers cloud-based no-code and low-code work management products.
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Bootstrapped SaaS startup Kissflow culls 11% workforce
Economic Times
·
1y ago
Medial
Chennai-based workflow automation software provider, Kissflow, has laid off around 11% of its employees as part of a company-wide restructuring. The job cuts affected employees in India, the US, and the UAE, and were made in order to increase customer acquisition and optimize operations. The company had previously made headlines for gifting luxury cars to employees as part of an appreciation drive. The global software-as-a-service (SaaS) industry has been facing challenges, with slower growth and margin pressure affecting companies in the sector.
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Zopper lays off 100 employees amid cost-cutting measures
Inshorts
·
3m ago
Medial
An insurance-focused SaaS startup, Zopper, has laid off approximately 100 employees in 2025. The latest round occurred in April, affecting around 50 members of the tech and product teams. Earlier this year, the company also dismissed 20 employees from these teams and its entire 40-person insurance staff. The layoffs are reportedly part of ongoing cost-cutting measures.
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Government alone cannot make the startup ecosystem successful
Economic Times
·
1y ago
Medial
Suresh Sambandam, the CEO of Chennai-based Saas startup Kissflow, emphasized that for Tamil Nadu to become a startup hub like Silicon Valley, it needs both government support and active participation from the startup community. He stated that while the government's role is to foster and facilitate the ecosystem, private, non-governmental activities are crucial for its success. Sambandam highlighted the need for startups to be involved in decision-making and recommended initiatives like funding programs and empowering graduates to address underemployment.
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Exclusive: BeepKart lays off more than 100 employees
Entrackr
·
11m ago
Medial
BeepKart, a Bengaluru-based full stack retailer of used two-wheelers, has laid off more than 100 employees in the past few months, sources aware of the development told Entrackr. Sources added that the company conducted the layoffs in phases, starting right after the fundraise in April this year. The move has affected more than 20% of the workforce, with employees across various verticals, including marketing, tech, product, and operations, being laid off. “A few senior roles were also impacted. The layoffs, however, came as a surprise as it happened right after the funding. The company likely made the move to focus on profitability,” a source, who did not want to disclose their identity, told Entrackr. BeepKart declined to comment on the layoffs. Founded in 2020 by Hemir Doshi and Abhishek Saraf, BeepKart helps people buy and sell used two-wheelers. The company currently operates in Bengaluru and Chennai. As per startup data intelligence platform TheKredible, the company has secured around $18.5 million to date and is currently valued at around Rs 362 crore $44 million (post-allotment of new shares). In April, BeepKart raised $6.5 million in an extended Series A round. Entrackr exclusively reported the development. The company counts Stellaris Venture Partners, Vertex Ventures, Innoven Capital, and Chiratae Ventures, among others as its backers. BeepKart directly competes with CredR and Bike Bazaar. BeepKart was a pre-revenue stage firm till FY22 but it posted decent growth during FY23. The company reported Rs 21.86 crore revenue in the fiscal year ending March 2023 while its losses stood at Rs 27.88 crore in the same period. The firm is yet to file its annual report for FY24. Layoffs right after a fundraise is rare though they do happen. Last year, e-commerce-focused packaging company Bizongo laid off employees shortly after announcing a $50 million funding round. Similarly, Coffee chain firm Third Wave Coffee fired more than 100 employees months after raising $35 million in a Series C round whereas Euler Motors trimmed 10% of its workforce within six months of a $60 million round.
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Tiger Global Backed Chargebee Fires 10% Workforce In 2nd Round Of Layoffs
Inc42
·
1y ago
Medial
Chargebee, the Chennai-based SaaS unicorn, has laid off approximately 10% of its global workforce, affecting around 100 to 120 employees across various departments. CEO Krish Subramanian cited "market shifts" as the primary reason for the layoffs. This comes almost ten months after Chargebee's initial reduction in workforce due to economic challenges. The company will provide severance packages following relevant labor laws in each country. Since the beginning of 2022, Indian startups have laid off over 28,000 employees as they navigate challenging economic conditions.
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Zoho crosses 100 million users; becomes the country's first company to do so
IndianStartupNews
·
1y ago
Medial
Chennai-based SaaS company Zoho has achieved a significant milestone, surpassing 100 million users across its 55+ business applications. The company, founded in 1996 by Sridhar Vembu, reached this milestone without external capital, making it India's first bootstrapped firm to do so. Zoho recorded $1 billion in annual revenue last year and continues to innovate, with plans to serve billions of users worldwide through deep technologies. Zoho will host its annual user conference, Zoholics, in 16 countries, including India, in October, with over 30 Zoholics events planned globally in 2023.
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Bizongo lays off about 50 staffers after closing $50 million round
Economic Times
·
1y ago
Medial
Bizongo, a business-to-business vendor-digitisation platform, has laid off around 50 employees, accounting for about 15% of its workforce, following a funding round of $50 million. The Mumbai-based startup, which offers vendor management and supply-chain automation services, made the decision to drive sharper focus on key business priorities. The funding round, led by existing investors, valued Bizongo at $980 million. The company aims to improve its performance and restructure itself as it seeks profitability.
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Agritech firm Waycool lays off more than 200 employees
Entrackr
·
1y ago
Medial
Agriculture supply chain firm Waycool has laid off over 200 employees across departments as the company eyes profitability. This is the third round of layoffs at the Chennai-based company. “Each of WayCool’s businesses is executing their plans to get to profitability. As part of this, roles and structures are further simplified and automated. This will be a continual process,” said a Waycool spokesperson. The company did not comment on the number of employees being fired. The previous two firings took place in July 2023 and February this year in which more than 370 employees were given pink slips. Moneycontrol, which reported the development first, said that the layoffs have impacted employees across Chennai, Bengaluru and Hyderabad, and its two subsidiaries: CensaNext and BrandNext. As per Entrackr sources, Waycool was negotiating a fresh round to the tune of more than $50 million which could have propelled its valuation in the range of $900 million to $1 billion. However, the talks did not go through. The firm was valued at $700 million in its last equity round. Waycool has raised around $160 million in funding to date from Lightrock, International Finance Corporation, FMO, and 57 Stars, among others. Earlier this week, Entrackr had highlighted Waycool’s struggle to scale and failing to raise a new round. While the company is yet to file its annual report for FY24, it registered 62% growth in its operating revenue to Rs 1,251 crore in FY23 from Rs 772 crore in FY22. The firm continued to bleed as its losses surged by 89% to Rs 685 crore in FY23. Founded by Karthik Jayaraman and Sanjay Dasari, Waycool buys fresh produce, including dairy products, from farmers and sells them to retailers and restaurants. It also runs private label brands and handles distribution for FMCG companies. This is the second major layoffs in the agritech space after ReshaMandi which sacked almost 80% of its workforce. Agritech was one of least funded segments during the first half of 2024. As per data compiled by TheKredible, agritech startups raised only $94 million across 22 deals, accounting for only 1.34% of the overall fundraise during H1 2024.
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Edtech startup Scaler lays off 150 employees
Inshorts
·
1y ago
Medial
Scaler, an upskilling platform for techies, has laid off about 150 employees, reports said on Wednesday. The layoffs at the Bengaluru-based startup come a year after the platform said it expanded its workforce by over 150% to 2,000, compared to 800 employees in February 2022. IIIT Hyderabad alums Anshuman Singh and Abhimanyu Saxena founded Tiger Global-backed Scaler in 2019.
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Pristyn Care lays off around 120 employees as it targets profitability and IPO
Entrackr
·
1y ago
Medial
Surgery-focused hospital chain Pristyn Care has reduced its workforce by 7% as the firm eyes profitability and initial public offering in the next few years. Pristyn Care said that it is discontinuing three redundant categories and the move will impact less than 7% of the 1,700 employees, with the majority in entry-level and support functions. It has also decided to exit six cities that were not adding adequate value to the business. “These changes are essential to align with the company’s strategic vision of efficiency, performance excellence, and long-term sustainability,” said the company in a press release. The firm will also provide comprehensive support to affected employees which includes full notice periods and severance packages, accelerated vesting of Employee Stock Ownership Plans (ESOPs) for the next three months and extended medical insurance coverage for employees and their families for the next six months. This is the second instance of layoffs at the Gurugram-based company in the past 12 months. In March 2023, it let go of around 45 employees because of their poor performance. Meanwhile, Pristyn Care has announced its ambitious goal to achieve profitability by FY25. The organisation has revealed plans for an IPO by 2027. Pristyn Care managed to grow its operating scale by 44.7% and cross Rs 450 crore mark in the fiscal year ending March 2023 or FY23. Its losses grew 38.27% to Rs 383 crore during the last fiscal year. As per the company, it has managed to reduce its marketing costs by 50% in the past year with an additional 20% reduction in the last quarter. The firm targets to reach Rs 900 crore in revenue by 2024, which is 100% growth year-on-year and the company is also on track to reduce EBITDA Losses by 50% YoY. Pristyn Care raised around $85 million from Peak XV Partners, Tiger Global and others to enter the unicorn club in December 2021. The firm also acquired Ratan Tata and Tiger Global-backed company Lybrate in June 2022.
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