Stradigi AI Lays off 90% Workforce – 50 Employees

The young Quebec company laid off almost all of its employees on Monday, ie 50 people.

Basil Bouraropoulos, CEO and co-founder of Stradigi, confirmed the information yesterday without wanting to say more.

The company recently failed to obtain the necessary funds to continue its activities, but is still trying to convince investors to open their pocketbooks.

Over $13M in IQ 

In 2019, Stradigi AI had raised $53 million from Investissement Québec and the Fonds de solidarité FTQ, which had staked $13.2 million each, as well as from the firm Holdun, owned by the descendants of Montreal tycoon Herbert Samuel Holt, the American rapper, advertising agency Cossette and Lester Fernandes, co-founder of Nuvei. 

“We will follow the situation of Stradigi AI closely and Investissement Québec will help the employees who have been made redundant in their transition. It is important to continue to support companies in artificial intelligence, ”reacted Mathieu St-Amand, spokesperson for the Minister of Economy and Innovation, Pierre Fitzgibbon.

“Under the current circumstances, there are no plans to reinvest” in Stradigi, he added. 

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