Indian agritech startup DeHaat, a soonicorn valued over $500 million, conducted layoffs in early August 2022, less than a year after raising a record $115 million. Founder and CEO Shashank Kumar confirmed the workforce reduction but disputed external reports of 500 job cuts, stating the number was not in the triple digits and attributing the action to performance corrections and culture misfits. With a total employee base exceeding 2,000 after rapidly adding 1,200-1,300 staff in the prior 14-15 months, the company aimed for profitability by March 2024 despite widening losses, highlighting the ongoing adjustments within the high-growth agritech sector.
