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Apna Mart lays off 10% of workforce, shifts base from Bengaluru to Gurugram

Accel and Peak XV-backed grocery delivery startup Apna Mart has laid off around 10% of its workforce. This is the first reported layoff at the quick commerce company. As per an ET report, this is a part of a restructuring exercise linked to AI adoption and relocation of its base from Bengaluru to Gurugram. The layoffs impacted around 35-40 employees across functions. The company said some roles became redundant due to AI-led automation, while certain employees were affected as relocation was not feasible. Apna Mart has moved its product and technology teams to Gurugram, while operational teams continue to work from cities where it currently operates. Entrackr has reached out to the company for more information. Founded by Abhishek Singh and Chetan Garg, Apna Mart operates a franchise-led quick commerce model focused on Tier II and Tier III cities. The startup delivers groceries in around 10 minutes and competes with players such as Blinkit, Swiggy, and Zepto. Unlike dark-store-only models, Apna Mart follows an omnichannel approach similar to Reliance Retail’s JioMart. The company currently operates in 14 cities across Jharkhand, Chhattisgarh, and West Bengal. Back in March last year, Apna Mart had raised Rs 214.5 crore (approximately $25 million) in equity and debt led by Fundamentum Partnership Fund and Accel. As per Entrackr, Apna Mart has raised approximately $40 million across multiple funding rounds. For FY25, Apna Mart reported a net loss of Rs 75.8 crore on Rs 190 crore revenue. The company claimed its revenue grew 2.5X to Rs 500 crore in FY26, without disclosing its bottom line.

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Published by: entrackr

Read full article here: https://entrackr.com/news/apna-mart-lays-off-10-of-workforce-shifts-base-from-bengaluru-to-gurugram-11805717