Telehealth startup Antidote Health has reduced its workforce by roughly a third, Calcalist reported Oct. 23.
The cuts at the New York City-based company included about 17 of its 40 employees in Israel, mainly from the research and development team, according to the story in the Israeli business newspaper. Antidote employed about 60 people prior to the move.
"Antidote, like all companies which believe in their vision and their existing and future products, and considering the uncertainty in the financial markets, is taking action on all fronts in order to streamline and preserve its cash," the company said in a statement to Calcalist.
Founded in 2020 in Israel, the artificial intelligence-powered startup offers a digital, subscription-based HMO aimed at uninsured patients, with unlimited virtual visits.
Antidote has raised $36 million to date, according to Crunchbase, including $1 million from NBA superstar Giannis Antetokounmpo in August. The company didn't respond to requests from Becker's for comment.