Digital Health platform MFine fires 500 employees
- ByStartupStory | May 23, 2022
Mfine, a Bengaluru-based digital health platform lays off 75% of the workforce, 500 employees were fired recently. The rumors say the job cuts are due to struggling in raising funds.
Digital health platform Mfine, operated by Novocura Tech Health Services Pvt Ltd, Apart from collaborating with hospitals, clinics, diagnostics, and radiology service providers to build online demand, the company offers consultation with professionals on its platform. In collaboration with hospitals, it also provides inexpensive health check packages. It debuted in March. To assist customers to keep track of their heart rate, MFine has included a heart rate monitoring option in its app.
Founded in 2017, MFine secured considerable money from new and old investors, prompting the layoff last year. Doctor consultations, diagnostic testing, pharmacy, and in-patient treatments are among Mfine’s digital offerings. Practo, Portea, and Apollo are some of the competitors.
Founded by Myntra executives Ashutosh Lawania and Prasad Kompalli, the firm has Mfine has released an app-based SPO2 (blood oxygen saturation) tracking solution that allowed users to track their oxygen saturation levels without the usage of separate equipment. This year, the business introduced functionality to the app that allows users to check their blood pressure and glucose levels.
Cars24, ed-tech businesses Unacademy and Vedantu, social commerce startups Meesho and Trell, virtual learning platform Lido Learning, and furniture rental startup Furlenco have all sacked up to 3,000 contractual and full-time staff in recent weeks.
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