Health tech startup Mojocare laid off approximately 150-170 employees, representing over 80% of its workforce, in June 2023. This drastic reduction occurred within a year of the company raising $20.6 million. The Bengaluru-based startup, which provides personalized wellness products and services, cited unsustainable business fundamentals and a strategic shift toward capital efficiency and profitability as reasons for the cuts. The layoffs left the company with only a small operational team.
