Healthtech Startup Mfine Lays off 500 employees

Digital Healthtech Startup Mfine, an on-demand doctor consultation and medicine ordering platform has laid off over 50% (around 500 employees) of its total workforce.

With this, the company joins several growth and late-stage companies such as Meesho, Vedantu and Unacademy, which had reduced workforce due to the slow funding environment.

In the past few weeks, around 3,000 contractual and full-time employees have been fired from these companies.

The slowdown in funding activities is affecting startups irrespective of their size, stage and valuation.

Many companies resort to layoffs to conserve resources, reduce burning, and prepare for a longer winter.

In September 2021, mFine had raised $48 million in its Series C funding round from Moore Strategic Ventures and Beenext. So far, the startup has raised around $75 million in three equity and debt rounds.

About Mfine

They strongly believe that consulting with your trusted doctor should not be as complicated and time-consuming as it is today! Scheduling an appointment, taking the day off work, waiting at the clinic for hours can all prove to be extremely tiresome, especially when you are feeling under the weather.

MFine aims to make your access to trusted healthcare simple, fast, and effective. They believe in improving the overall health care delivery experience. They intend to help you heal quicker and better without having to wait needlessly. With a powerful combination of highly-experienced, compassionate doctors and state-of-the-art technology, They, at MFine, believe in delivering top-quality health care at every step. They also provide at-home health checks, lab tests, medicine delivery and facilitate booking of Radiology services.