91trucks, a commercial vehicle marketplace startup, has recently completed a substantial restructuring process. This has led to the departure of nearly 70% of its staff and the closure of multiple stores, as reported by various sources acquainted with the situation. According to information from Startup Superb, approximately 100 employees have exited the firm over recent weeks, leaving the company with around 50 remaining staff members. This reduction represents nearly 70% of their total workforce.
In response to inquiries from Startup Superb, Siddharth Sharma, co-founder and CEO of 91trucks, acknowledged the decrease in personnel but did not specify the precise figures. A person familiar with the situation stated that initial growth expectations had not been met over the past six months, indicating a downturn in performance.
Several sources indicated that a contraction in demand for commercial vehicles, attributed to macroeconomic factors, has influenced the slowdown. Another source noted that the market dynamics vary in different regions, saying that in smaller towns, transport operators and truck owners are still grappling with issues related to fuel prices, which have impacted their vehicle purchasing decisions.
Additionally, the company has reduced its offline retail footprint, with nearly twenty stores closing in the past few months, primarily in southern India and Madhya Pradesh. Startup Superb consulted more than six store operators connected to the network, who verified these closures on the premise of anonymity.
Siddharth Sharma commented on the company’s strategy, stating that to streamline operations in a highly fragmented market, they have made certain strategic and structural adjustments. The company intends to concentrate its efforts on enhancing its market presence in northern India, which is significant, while discontinuing operations in a few other areas. This strategic move was largely influenced by the complexities involved in backend processes, particularly concerning RC transfers and compliance.
Moreover, there have been implications for senior leadership, with reports suggesting that the company’s country head recently departed. Startup Superb was unable to independently verify the details surrounding this exit.
This restructuring comes shortly after 91trucks acquired Motorfloor and Trucksfloor, two platforms focused on mobility, operated by Indiyanet, in Bhubaneswar. This acquisition aimed to bolster the company’s foothold in the commercial vehicle sector.
In addition, the company was reportedly in discussions to secure around $10 million in new funding, although this funding round did not materialise. Siddharth Sharma refrained from commenting on these fundraising negotiations.
Founded by Siddharth Sharma, Abhishek Gautam, and Vikas Sharma, 91trucks facilitates commercial vehicle discovery, financing, and related services. In May 2025, the firm raised approximately $5 million in a Series A round led by Arkam Ventures, with contributions from Titan Capital, Sparrow Capital, and Atrium Angels, which valued the company at around $33 million.
Currently, various startups within the automotive retail, mobility, and commercial vehicle sectors are facing sluggish demand and a challenging funding landscape. Industry executives and investors tracking this sector suggest that those startups that aggressively expanded through physical networks could experience further consolidation, workforce cuts, and potential business closures if fundraising continues to be difficult and demand rebounds slowly.