ReshaMandi Layoffs

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ReshaMandi, a Bengaluru-based agri-tech startup backed by investors like Creation Investments, has laid off its entire workforce amid a severe financial crisis. The company, which had raised over $50 million, is struggling with liabilities, unpaid salaries, and operational costs, leading to a complete shutdown of its website and the resignation of its auditor. This follows corporate governance issues, including allegations of revenue inflation and fake invoices. The layoffs, reported in August 2024, mark a dramatic collapse for the firm, which had previously scaled operations in the textile and silk supply chain industry.

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