Israeli surgical robotics startup Momentis, formerly known as Memic, is laying off 70 employees, which represents 60% of its workforce. The layoffs reduce the team from 120 to 50 employees, with about 40 based in Israel and the rest in the U.S. This significant downsizing, announced in May 2023, follows the collapse of a planned $1 billion SPAC merger in March 2022 due to unfavorable market conditions. Operating in the medical technology industry, the company develops robotic-assisted surgery solutions and had raised $116 million since its 2012 founding.
