ReshaMandi Layoffs
June 2024
ReshaMandi announced a layoff affecting 0 employees (80% of its workforce) in June 2024. The company operates in the Food sector.
0
80%
Jun 20, 2024
About
ReshaMandi, a B2B agritech marketplace specializing in silk and natural fibers, has laid off approximately 80% of its workforce due to a severe funding crisis. The company, which had raised about $70 million, failed to secure its Series B funding, leading to massive operational scaling. Burdened with over ₹300 crore in debt, it now faces court cases from lenders and vendors, with some creditors planning to push it into insolvency. This drastic downsizing, reported in June 2024, highlights the intense financial pressures in the tech startup sector, particularly for ventures struggling to transition beyond early funding stages.
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