Agritech Firm Waycool Lays Off Over 200 Employees Amid Profitability Push

In one of the biggest steps toward attaining profitability, Waycool, an agritech firm, has laid off over 200 employees across various departments.

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This is the third round of layoffs for the Chennai-based company, which has been striving to bring about better operational efficiencies and bring down costs.

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A Waycool spokesperson said, “Each of WayCool’s businesses is executing their plans to get to profitability.

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The previous layoffs were in July 2023 and February 2024, with more than 370 employees laid off in those rounds.

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This time, the layoffs affected employees from locations at Chennai, Bengaluru, Hyderabad, and subsidiaries of Waycool – CensaNext and BrandNext.

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According to sources, Waycool has been in negotiations for a fresh funding round of over $50 million, increasing the valuation of the firm to about $900 million to $1 billion.

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