New York-based fintech startup Daloopa laid off around 40 to 50 employees from its Noida, India office on May 27, 2022, marking its second round of job cuts in two months. The layoffs affected trainees, mid-level, and senior employees, including some hired as recently as April and May. The company, which provides AI solutions for investment research data and had raised $20 million in Series A funding led by Credit Suisse, reportedly faced challenges in securing subsequent funding. This move reflects broader difficulties in the tech startup sector, where investors like SoftBank and Tiger Global have reduced exposure amid market downturns.
