(Reuters) – Benchling, which develops software tools for scientists and pharmaceutical research organizations, has laid off 74 employees, or 9% of its workforce, its spokesperson confirmed on Friday.
The startup joins a growing number of U.S. firms, including Facebook-parent Meta Platforms Inc, Amazon.com Inc and several startups, to downsize its workforce amid mounting worries of a recession in the United States.
The San Francisco-based company, which filed for an initial public offering in late 2021, was last valued at over $6 billion.
Founded in 2012 by Massachusetts Institute of Technology classmates Sajith Wickramasekara and Ashu Singhal, Benchling has emerged as a major player in a niche and growing market for digitizing the R&D process.
Benchling offers cloud-based tools and laboratory automation software that allow researchers to collaborate and track projects.
(Reporting by Granth Vanaik in Bengaluru and Krystal Hu in New York; Editing by Anil D’Silva)
