Indian healthtech startup Breathe Well-being fired around 100 employees in a restructuring exercise last week, sources told Inc42.

The layoffs were reportedly due to the startup’s inability to raise fresh funding, leaving it with a runway of just six months to a year.

However, co-founder and CEO Rohan Verma confirmed that the company let go of 90 employees from its 290-strong India team and refuted funding concerns.

He also said that Breathe Well-being had closed a fresh round of funding, which will be announced soon.

The startup, which helps manage and reverse Type 2 diabetes, has raised over US$10 million to date.