Health care start-up shut shop after raising $25 million

The health-tech company raised $25 million in 2022. Now their operations are shut, website deactivated. They haven't paid their employees for over 3 months. They encouraged employees to resign and brought their count down from 2000 to 200. They even played a facade to showcase they were afloat by hiring people in Jan 2023, and moving to a larger office space. The employees allege the company had promised to clear the dues.

This was backed by the Kalaari capital and others. What's happening with health tech?