Eigen Labs Lays Off 25% of Staff Due to Adjustment in EigenCloud Product Direction

Eigen Labs has laid off 29 employees due to adjusting the direction of its EigenCloud product. The product, released last month, is a developer platform focused on off-chain and on-chain verification. As part of the announcement at the time, a16z announced a $70.000.000 investment. The company has raised a total of $220.000.000, including $50.000.000 in Series A funding in 2023. An Eigen Labs spokesperson said the layoff decision (affecting 25% of employees) was not due to financial considerations and that the project still has financial room. [Odaily Planet Daily]