Eigen Labs lays off 25% of its employees due to adjusting its EigenCloud product direction

Odaily Planet Daily News: Eigen Labs has laid off 29 employees due to the adjustment of its EigenCloud product direction. This product was released last month and is a developer platform focused on off chain and on chain verification. As part of the announcement at the time, a16z announced a $70 million investment. The company has raised a total of 220 million US dollars, including 50 million US dollars in the 2023 Series A financing. A spokesperson for Eigen Labs stated that the layoff decision (affecting 25% of employees) was not driven by financial considerations, and the project still has financial space.