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News on Medial
Nexus, RTP Global-backed 56 Secure lays off staff, trims ops on funding delay
VCCircle
·
8m ago
Medial
56 Secure, a Bengaluru-based startup backed by Nexus Venture Partners and RTP Global, has initiated layoffs due to financial setbacks and delays in securing additional funding. The company, operating in the field of AI technologies, has struggled with increasing losses. As a result, a significant number of employees have been let go. This move marks a challenging period for 56 Secure as it grapples with financial obstacles and seeks to stabilize its operations.
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Fi Money shuts down some features, trims workforce to stay afloat
Livemint
·
1m ago
Medial
Fi Money, a neobanking startup, is facing financial challenges and struggling to secure capital from investors due to poor performance. In response, the company has laid off employees and shut down some features to manage costs and stay afloat. Despite being backed by major investors such as Temasek and Peak XV Partners, Fi Money is taking these measures to address severe runway issues and financial difficulties.
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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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Ecommerce and fintech firm Bolt lays off 29% of staff
Economic Times
·
1y ago
Medial
Bolt, a US-based e-commerce and fintech company, has laid off 29% of its staff as part of its effort to achieve sustainable growth and efficiency. This comes after a series of previous layoffs since 2022. The company has raised $1 billion in venture-backed capital and was once valued at $11 billion. Similarly, music streaming giant Spotify announced a layoff of 17% of its workforce, affecting over 1,500 employees. Both companies cite the need to optimize operations and navigate economic challenges as reasons for the layoffs.
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Peak XV-backed Cuemath lays off 100 more employees amid edtech slump
Money Control
·
1y ago
Medial
Online math learning platform Cuemath has laid off 100 employees as it aims to cut costs amidst challenges in the edtech industry. The startup, backed by Peak XV Partners and Alpha Wave Global, faced revenue and cost disparities exacerbated by a difficult macroeconomic environment. Cuemath had previously laid off about 100 employees in May to enhance efficiency. The move reflects a broader trend of investor caution towards Indian edtech companies, with investments in the sector declining by over 80% in 2023. Cuemath's CEO, Manan Khurma, noted challenges and limited market depth in India's edtech landscape.
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Open source Arm competitor SiFive lays off 20% of staff
Economic Times
·
1y ago
Medial
Open-source Arm competitor SiFive lays off 20% of staff. SiFive, a startup that designs and manufactures chips based on the open-source RISC-V architecture, has laid off 20% of its employees amid uncertain market conditions. The company, which has raised more than $190 million in funding, cited macroeconomic factors and market volatility as reasons for the layoffs. SiFive's RISC-V processors are used in a variety of applications, including artificial intelligence and autonomous vehicles.
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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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Tech layoffs 2025: Turmoil as ADM trims 700 jobs, Salesforce slashes 1,000 after Microsoft, Meta, and Amazon axe
Livemint
·
6m ago
Medial
In 2025, major tech and corporate firms, including ADM and Salesforce, are implementing significant layoffs amid market challenges. ADM plans to cut 700 jobs globally to save costs due to market uncertainties. Salesforce is laying off over 1,000 employees while hiring for AI initiatives, with laid-off staff able to reapply internally. Microsoft, Meta, and Amazon are also reducing jobs, citing performance and economic reasons, contributing to widespread industry employment turmoil.
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Sharechat vacates their long-time Koramangala office.
Medial
·
1y ago
Medial
Sharechat reportedly emptied one of its longtime office in Koramangala near Nexus mall. Pictures came out recently which showed staff moving the belongings of the office to a new location. Sharechat might be consolidating its business under a single big office at a new location. During the ongoing string of layoffs Sharechat had laid off around 600 plus employees in January 2023.
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CoinSwitch lays off 44 employees in customer support team, cites role redundancy
Money Control
·
1y ago
Medial
Crypto startup CoinSwitch, backed by Tiger Global, has laid off 44 employees from its customer support team, attributing the redundancies to decreased customer queries amid a drop in crypto trading volumes. The layoffs come amidst regulatory uncertainties and high taxation in India's crypto industry. CoinSwitch, one of India's two crypto unicorns, is valued at $1.9 billion and plans to expand offerings beyond crypto into wealthtech. The company clarified that it follows a half-yearly appraisal cycle and denied having a separate operations team.
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ReshaMandi lays off 80% of its workforce: Report
Inshorts
·
1y ago
Medial
ReshaMandi, a Bengaluru-based B2B marketplace for fibre, silk and yarns, has laid off 80% of its workforce after failing to secure fresh funding, Economic Times reported. The company has been forced to scale down operations due to pending debt repayments, frozen bank accounts, and legal battles with creditors, reports said. Founded in 2020, ReshaMandi has raised $70 million to date.
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