Logistics unicorn Porter lays off 300-350 employees months after raising $200 million in funding

Bengaluru-based on-demand logistics unicorn Porter has reportedly laid off about 300–350 employees as part of a cost-rationalisation exercise. The move comes as the company works to streamline operations and strengthen its financial position ahead of a potential IPO.

In a 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 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.”

Founded in 2014 by Pranav Goel, Uttam Digga, and Vikas Choudhary, Porter provides intra-city and inter-city logistics, including on-demand trucking, courier, and packers-and-movers services for both B2B and B2C customers.

The job cuts reportedly span multiple business teams as the startup merges verticals and reduces redundancies. The restructuring follows a period of rapid expansion and fundraising. 

In May 2025, Porter raised $200 million in a round led by Kedaara Capital and Wellington Management, valuing the startup at $1.2 billion. 

Since its founding, Porter has raised over $332 million across multiple rounds. The startup also facilitated an exit for its early investor Peak XV Partners, which reportedly generated returns of over Rs 1,200 crore on an investment of Rs 116 crore.

In FY25, Porter reported strong growth and a turnaround in profitability, with operating revenue rising 57% year-on-year to Rs 4,306 crore and net profit touching Rs 55 crore, compared with a loss of Rs 96 crore in the previous year.