Copyright timesnownews
Bengaluru-headquartered on-demand logistics platform Porter said on Tuesday that it has laid off employees to rationalise the costs, without mentioning the exact number of employees to be fired from the company. According to The Economic Times report, citing sources, the number of laid-off employees is about 300 to 350. In an official statement on Tuesday, 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 organisation 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." The recent layoffs reportedly impact multiple teams as Porter consolidates business verticals and streamlines operations. $200 Million In Funding As per previous media reports in September, Porter was close to securing $100-110 million in funding from a mix of existing and new investors. This would raise the total investment in the company to $300-310 million, as part of an ongoing extended funding round. Earlier, in May, Porter had raised $200 million in a round led by private equity firms Kedaara Capital and Wellington Management, which valued the company at $1.2 billion. About Porter Porter was founded in 2014 by Pranav Goel, Uttam Digga, and Vikas Choudhary. It offers both B2C and B2B logistics solutions, encompassing goods transportation, packers and movers services, as well as intercity courier and freight operations. The company has expanded significantly and secured substantial funding. Porter Financials In FY25 In the financial year 2025 (FY25), the company recorded a 57 per cent increase in operating revenue, reaching Rs 4,306 crore, and turned profitable. Porter posted a net profit of Rs 55 crore, compared with a loss of Rs 96 crore in the financial year 24 (FY24).
