Bengaluru-based on-demand logistics platform Porter announced on Tuesday that it has laid off employees as part of efforts to rationalize costs. While the company did not disclose the exact number of job cuts, sources indicated that around 300–350 roles were impacted as the startup prepares for a potential public listing.
In an official statement, Porter said, “We’re in the midst of a transition that required a one-time restructuring, aimed at building a stronger, more agile, and financially resilient organization for the road ahead. As part of this journey, we’ve had to make some difficult decisions that affect our people, choices that were not easy and were made after careful consideration.”
Reports from September suggested that Porter was in the final stages of securing $100–110 million in funding from both existing and new investors, which would raise the total capital invested in the company to $300–310 million as part of an extended round. Earlier in May, Porter had raised $200 million in a round led by Kedaara Capital and Wellington Management, valuing the company at $1.2 billion.
Founded in 2014 by Pranav Goel, Uttam Digga, and Vikas Choudhary, Porter offers intra-city logistics and courier services, including on-demand trucking, packing and moving, and enterprise logistics solutions.
In FY25, the company recorded a 57% rise in operating revenue to ₹4,306 crore and achieved profitability, posting a net profit of ₹55 crore compared to a loss of ₹96 crore in the previous fiscal year.
