Chennai's agritech startup WayCool cuts 200+ jobs, 570+ in a year
WayCool Foods, a Chennai-based startup, has laid off over 200 employees after failing to secure funds. Previously, it laid off over 300 employees in July last year and 70 in February. The company has delayed salaries and stopped vendor payments due to stuck client collections. Despite raising 75% of a $40 million bridge round, losses increased by 89% in FY23.