Porter, On-demand logistics startup, has laid off around 300–350 employees as part of a cost rationalisation exercise, ahead of a potential public listing, according to people familiar with the matter.
The Bengaluru-based company confirmed a one-time restructuring, stating that the move was aimed at building a “stronger, more agile, and financially resilient organisation.” Porter said the decision was difficult but necessary as part of its transition and long-term growth strategy.
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.
The startup achieved profitability in FY25, reporting an operating revenue of ₹4,306 crore, up 57% from the previous year, and a net profit of ₹55 crore, a sharp turnaround from a ₹96 crore loss in FY24. This financial performance reflects Porter’s rapid scaling and operational improvements, reinforcing investor confidence in its growth trajectory.
Porter has been actively raising funds to support expansion and strengthen its balance sheet. In May 2025, the company raised $200 million in a round led by Kedaara Capital and Wellington Management, valuing the startup at $1.2 billion. More recently, the firm has been in advanced discussions to raise an additional $100–110 million from existing and new investors, bringing its total funding to around $300–310 million.
The layoffs come as Porter focuses on streamlining operations, enhancing financial stability, and positioning itself for its next phase of growth, including a potential market debut. By restructuring now, the company aims to emerge leaner and more competitive while sustaining its long-term expansion plans in India’s rapidly evolving logistics landscape.
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