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Eigen Labs lays off 25% of its staff as it adjusts the direction of its EigenCloud product
Odaily News Eigen Labs laid off 29 employees as it adjusts the direction of its EigenCloud product. The product, released last month, is a developer platform focused on off-chain and on-chain verification. As part of the announcement at the time, a16z announced a $70 million investment. The company has raised a total of $220 million, including $50 million in a Series A round in 2023. An Eigen Labs spokesperson said the layoff decision (affecting 25% of employees) was not based on financial considerations and that the project still has financial space.
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