Holding TheStick Photo Healthy.io
Israeli startup Healthy.io, which provides urinalysis at home via smartphone, is laying off about one third of its total staff, or 70 people. The move comes as the company raised $50 million in a Series D funding round for a total of $143 million to date. Meanwhile, Unity Israel, formerly ironSource, is making more cuts that will reportedly include dozens of terminations in Israel. And Corning is closing its Israel R&D center – Corning Israel – which will see dozens more Israelis lose their jobs.
So, Israel Startup Nation is far from out of the water when it comes to the worldwide financial crisis; even though, many Israeli startups are still bringing in new raises.
Corning Israel was previously an Israeli startup called MobileAccess which was acquired by Corning in 2011. Corning said the closure is being carried out as part of a move to “adjust the company’s expenditure and revenue structure.”
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Nissim Atias, General Manager of Corning Israel, confirmed the closure telling Calcalist, “Corning is today taking many steps to support its long-term growth and it is taking a number of actions to adjust its expense structure and has closed its center in Israel. We made every effort to find other alternatives. We will provide everyone with a comprehensive support package and compensation.”
For Unity, this is the company’s third round of layoffs in the past year. The layoffs in Israel could simply be related to the job cuts that usually come with a corporate merger such as the one between Unity and ironSource.
Just three years ago Helthy.io bought out Inui Health, its longtime rival, for $9 million.
Formerly known as Scanadu, Inui Health was founded in 2011 by Misha Chellam and Walter De Brouwer. Its starting point was impressive. Inui Health provided a home scanning product for thousands of medical conditions. The company raised over $1 million on Indiegogo in 2013 to build its Star Trek Tricorder-like scanner. The campaign marked one of the most successful crowdfunding campaigns of all time.
“Our mission has always been clear: to improve the lives of patients by delivering clinical grade testing at the speed of life,” Healthy.io founder and CEO Yonatan Adiri said in a release. “By reducing barriers to essential diagnostic tests, Minuteful Kidney can reduce healthcare costs, create clinical value for providers and help prevent patients of all socioeconomic backgrounds avoid costly and disruptive kidney disease treatments.”
