Perx Health, a Melbourne-based health tech startup, has laid off an unspecified number of employees as part of a broader wave of job cuts across Australia's startup sector. The layoffs come amid a sharp downturn in venture capital funding, driven by rising interest rates, inflation fears, and plunging consumer confidence, which has spooked investors. This has forced many cash-burning startups, including those in health tech, to tighten their belts, cut costs, and reduce headcount to extend their runway. The sector, which had enjoyed a decade of unprecedented growth with a record $10 billion invested in 2021, is now facing a harsh reality check, with several prominent startups like Milkrun, Voly, HealthMatch, and Una Brands also implementing significant layoffs or spending cuts.
