Eigen Labs announces a workforce reduction of approximately 25% and a strategic shift of focus towards EigenCloud.

July 9th. According to Blockworks, Eigen Labs has announced a workforce reduction of approximately 25% (29 employees) as it shifts its focus to EigenCloud. EigenCloud, which was launched last month, is a developer platform that focuses on off-chain and on-chain validation. a16z has announced a $70 million investment in the company, bringing its total fundraising to $220 million, including $50 million from its Series A funding round in 2023. [BlockBeats News]