Eigen Labs Announces Approximately 25% Layoffs, Shifts Business Focus to EigenCloud

On July 9, according to Blockworks, Eigen Labs announced a layoff of approximately 25% (29 employees) and will shift its business focus to EigenCloud. EigenCloud, released last month, is a developer platform focused on off-chain and on-chain verification. a16z announced a $70.00 million investment in it, bringing the company's total funding to $220.00 million, including $50.00 million in Series A funding in 2023. [BlockBeats]