Kenko Health laid off about 20% of staff as its Series B stalled, sources say

Indian subscription health plans covering OPD and hospitalisation costs in partnership with insurers; claimed 220,000 subscribers

Reducing headcount by about 20% keeps Kenko operating while its Series B is delayed

$12M Series A led by Peak XV Partners (formerly Sequoia Capital India) in February 2022, with Beenext, Orios, 9Unicorns and Waveform

Kenko Health, about three years old in 2023, sold a subscription service covering health expenses across OPD and hospitalisation, working with insurers. Its monthly plans cost between Rs 175 and Rs 950, and it also sold plans to large businesses, SMEs and families.

The company raised a $12M Series A led by Peak XV Partners in February 2022. By August 2023 it claimed more than 220,000 subscribers and had recently announced a strategic partnership with Tata 1mg, whose supply chain covers over 20,000 postal codes.

Per sources, Kenko laid off 20% of employees over a few weeks, at least 50-60 people, and the number could be higher. Kenko did not respond to Entrackr's queries before publication.

A Series B was in progress but, per a source, not happening anytime soon

The company had last raised a $12M Series A in February 2022

Several growth-stage Indian startups had laid off staff after raising money

Kenko did not respond to Entrackr's request for comment

A Series A and a distribution partnership did not guarantee a follow-on round; layoffs came before any Series B closed.

As of 2023-08-29 the layoffs were reported by anonymous sources and not confirmed by Kenko, whose headcount before the cuts was not given. The figure of 50-60 is described as a minimum.