Eigen Labs announces approximately 25% layoffs, shifts business focus to EigenCloud

According to ChainCatcher, as reported by Blockworks, Eigen Labs has announced layoffs of approximately 25% (29 employees) and will shift its business focus to EigenCloud.

EigenCloud, launched last month, is a developer platform focused on both off-chain and on-chain verification. a16z has announced a $70 million investment in the company, bringing its total funding to $220 million, including $50 million from its Series A round in 2023.