Los Angeles based Manufacturing Startup Divergent 3D has reduced its staff strength by one-third. According to the report filed at the California Employment Development Department, the Startup has laid off 57 workers. There were 160 workers in total.
The company was born with the idea of creating a mechanism for producing new cars in a faster and efficient manner that too at a reduced cost all while minimizing the impact on the environment.
Kevin Czinger, the founder and CEO of Divergent earlier founded the now-defunct EV startup Coda Automotive.
The platform uses 3D techniques to produce automotive parts including full-body frames, suspension structures etc.
The company had earlier raised about $150 million from investors including Horizons Ventures, Altran Technologies and O Luxe Holdings, which has the backing of Hong Kong-based real estate investment magnate Li Ka-shing and Shanghai Alliance Investment Limited.
The laying off of employees has been attributed to the Covid-19 pandemic which has hit the automobile industry hard.
