100 Workers Are Fired by Accel-Backed Breathe Well-Being
According to a media report, Breathe Well-being, situated in Delhi NCR, laid off over 100 workers during a reorganisation exercise last week. According to the report, the startup's inability to secure new investment and its short six- to one-year runway were the reasons for the layoffs. The reorganisation exercise may have affected up to 120 people. Nevertheless, the business has laid off 90 of the 290 workers in its India unit, cofounder and CEO Rohan Verma told a media outlet. He also denied the claims of a lack of funds, stating that a new round of funding has been closed by the startup and would be revealed shortly. The report stated that the sales team was particularly hit by the layoffs, which affected workers in a variety of departments, including marketing, technology, and human resources. Nearly three years have passed since a media outlet exclusively revealed that Breathe Well-being had let go of about fifty workers.
Shifting Focus to US Market
The US market will now be the primary focus of Breathe Well-being. They said that, aside from the US, it has ceased onboarding new users in Africa, Australia, New Zealand, India, and other markets. In India and other nations, they have been having problems with prices. After serving the current clientele, they plan to shut down within the next six months. They will concentrate on the US market as it is producing results, according to one of the sources. In response, Verma stated that the firm has chosen to concentrate on international markets, particularly the United States. Breathe Well-being, which was founded in 2020, aids in the prevention, treatment, and reversal of Type 2 diabetes. It asserts that it provides a simple yet efficient substitute for medications to do this. According to Verma, the business is helping the affected employees find jobs and offers career counselling in addition to severance money.
Financial Report
In its most recent pre-Series B funding round, which was co-led by 3one4 Capital, Accel, and General Catalyst, the business raised $6.1 million. Supermorpheus and FounderBank Capital also participated in the fundraising round. The business has raised more than $10 million thus far, and its backers include Y Combinator and Scott Shleifer, the former CEO of Tiger Global.
About Breathe Well-Being
Breathe Well-being's digital therapeutics program helps people lose weight and prevent or manage chronic lifestyle disorders. Users are able to follow the lifestyle program from the comfort of their own homes because it is remotely supplied via phone and mobile app. Breathe Well-being was founded by Aditya Kaicker and Rohan Verma, and it has shown promise in helping patients reduce or stop taking medication for lifestyle diseases, including Type 2 Diabetes, lose weight, and develop long-term healthy habits. The business is searching for ways to enhance its sales procedures in order to increase the number of people who sign up after the brand's one-week free trial.
Nitin Konde
Must have tools for startups - Recommended by StartupTalky
- Convert Visitors into Leads- SeizeLead
- Website Builder SquareSpace
- Manage your business Smoothly Google Business Suite
