91trucks has reportedly laid off nearly 70% of its workforce and shut multiple stores as growth slows. The move reflects the challenges startups face in balancing expansion plans, operational costs, and long-term sustainability in a competitive market. The restructuring has also affected senior leadership. Nearly two dozen 91trucks stores have been shut over the past few months, with most closures concentrated in southern India and MP.
Commercial vehicle marketplace startup 91trucks has carried out a major restructuring exercise that resulted in the departure of nearly 70% of its workforce and the closure of several stores, according to multiple sources familiar with the matter.
91trucks co-founder and CEO Siddharth Sharma confirmed that the company has reduced its headcount without confirming the exact numbers.
"The company was doing well, but growth projections made earlier could not be achieved over the last six months," said a person aware of the development, who requested anonymity.
The development comes three months after 91trucks acquired Motorfloor and Trucksfloor, two mobility-focused platforms operated by Bhubaneswar-based Indiyanet. The acquisition was aimed at strengthening the company's presence in the commercial vehicle ecosystem.
According to Entrackr, around 100 employees have left the company over the past few weeks, leaving the startup with a team of roughly 50 people. "The reality in smaller towns is different. Transport operators and truck owners continue to face challenges related to diesel and petrol prices, which has affected vehicle purchase decisions," one source said.
“As we continue organizing this highly fragmented market through trust, transparency, and ease of doing business, we have undertaken certain strategic and structural changes. After careful evaluation, we decided to focus our efforts on strengthening our presence in the North Indian market, which is substantial, while exiting a few geographies. This decision was driven primarily by the operational complexities and timelines involved in backend processes, particularly RC transfers and related compliance activities,” said Siddharth Sharma.
Several sources attributed the slowdown to macroeconomic challenges and weaker demand across the commercial vehicle segment. "Demand has softened due to macroeconomic conditions and ongoing geopolitical tensions. Business has not grown at the pace that was expected," said another source.
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Founded by Siddharth Sharma, Abhishek Gautam, and Vikas Sharma, 91trucks operates a platform focused on commercial vehicle discovery, financing, and related services. In May 2025, the company raised around $5 million in a Series A round led by Arkam Ventures, with participation from Titan Capital, Sparrow Capital and Atrium Angels. The round valued the company at approximately $33 million.
The road ahead for 91trucks will likely focus on operational efficiency, cost control, and sustainable growth. While the restructuring reflects current challenges, the company's ability to adapt its business model and strengthen core operations will be crucial to its long-term recovery and competitiveness.