91trucks cuts 70% of staff, shuts ~24 stores as CV demand cools and $10M raise collapses
The commercial vehicle marketplace exited ~100 of ~150 employees and shuttered nearly two dozen stores across South India and MP after a $10M funding round fell through. Country head has departed; remaining ~50 staff will refocus on North India, months after a $5M Series A at $33M valuation.
Commercial vehicle marketplace 91trucks laid off ~70% of staff (around 100 employees) and shut nearly two dozen stores across southern India and MP amid weak CV demand, failed $10M fundraise, and country head exit; refocusing on north India.
Why this matters
91trucks raised a $5M Series A at $33M valuation just months ago, but a failed $10M follow-on and softening CV demand have forced a sharp retrenchment to North India and a 70% headcount cut.
Retail-company signals steady at 3,404 over the last 90 days.
Also reported by
- Entrackr — Same time