According to Foresight News, Eigen Labs has announced a reduction of approximately 25% of its workforce, affecting 29 employees, as it shifts its business focus towards EigenCloud. EigenCloud, launched last month, is a developer platform dedicated to both off-chain and on-chain verification.
The company has received significant financial backing, with a16z investing $70 million. In total, Eigen Labs has raised $220 million, which includes $50 million from a Series A funding round in 2023.