Eigen Labs cut its workforce 25%, lost 29 duties, as CEO Sreeram Kannan said he renovated the company at Focus on eigencloud formationWhat he calls a “proven” alternative to existing, fuzzy cloud services.
Startup said that Seattle is based that the dismissal is not a cash-crunch response. Comany is supported by $ 220 million in venture funding, including a $ 100 million series B round led by A16Z in February giving a $ 1 billion appreciation.
“As these changes are, they will sharpen our focus as a company and ensure that our teams are structured to maintain a single, ambitious goal: to develop the first proven cloud platform worldwide,” Kannan said in a post in X. “We advanced a lighter approach, updated energy, and a laser team focused on our mission.”
Eigenlayer, the restaking protocol undergoing the project, and the data-availability brother Eigenda will remain online as part of Eigencloud, Kannan added In a separate post.
Employees leaving the company will receive a three -month salary, accelerated token vesting, ongoing health ranges, and will help find new jobs, he said. He also invited other crypto companies to recruit the departure staff, which signed a wish to keep the talent within the ecosystem.
