Healthtech Platform Practo Sacks 41 Employees

A healthtech platform known as Practo that provides online consultations with doctors and helps patients connect with verified healthcare providers has laid off 41 employees.

The layoffs had impacted engineers, and the company stated that they were part of its continuous performance management and planning process.

Practo clarified that the layoffs were not related to its financial performance, which is reportedly at an all-time high.

The company has raised over $228 million in funding and plans to hire another 500 employees in the next 12 months.

The layoff is seen as another indication of the funding winter that has impacted the startup ecosystem, as investors have become more cautious about investing in companies that have yet to establish profitability or a path to profitability.