Kenko Health Layoffs

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Kenko Health, a healthtech startup backed by Peak XV Partners and BEENEXT, has ceased operations due to a severe cash crunch and its inability to secure an insurance license from IRDAI. The company, which had raised over $13.7 million since its 2019 founding, informed employees in late June that it had exhausted funds and faced legal action from a debt investor at the NCLT. This led to the closure of its offices in Bengaluru and Mumbai and rendered its communication channels unresponsive. The shutdown followed internal disputes over equity dilution with a potential new investor, which was intended to help obtain the necessary license, ultimately derailing the company's transition to a full insurtech model.

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