Layoffs Hit Kenko Health, Healthtech Startup Fires 50-60 Employees: Report

New Delhi, August 30: Homegrown healthtech startup Kenko Health has laid off 20 per cent of its employees across functions, a media report said. According to Entrackr, citing sources, the company fired at least 50-60 employees, however, the number could be higher. It was also trying to raise Series B funding. In February last year, Kenko Health raised $12 million in a Series A round led by Peak XV Partners (formerly Sequoia Capital India).

Existing investors Beenext, Orios, 9Unicorns, and Waveform also participated in the round. According to the report, the startup has already fired these employees over the past few weeks. Bengaluru-based Kenko Health offers a subscription-based service that covers health expenses across OPD and hospitalisation, in partnership with insurance companies. It also provides healthcare plans for large corporations, small and medium-sized businesses, individuals, and families. Its monthly subscription plan ranges from Rs 175 to Rs 950. iPhone 15 Launch Date: Apple Announces Mega Launch Event on September 12 To Unveil iPhones 15 Series; Check Complete Details.

The company claims to have over 2,20,000 subscribers and to have served more than 2,00,000 corporate clients. In April, leading digital healthcare platform Practo laid off 41 employees, mostly engineers, as part of the company's continuous performance management and planning process, as the funding winter continues. The layoffs affected the engineering department the most, especially roles like product managers and software engineers, etc. Moto G54 5G, Moto G84 5G: From Launch Date to Leaked Specs and Prices, Know Everything About Motorola's Upcoming Smartphones.

The company said in a statement that upholding a high bar for performance and productivity is crucial to maintaining this level of growth. "Therefore, as part of our continuous performance management and planning process, we had to part ways with 41 employees in accordance with their employment contracts," a Practo spokesperson added.