BeepKart Layoffs

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Bengaluru-based used two-wheeler marketplace BeepKart has laid off approximately 130 employees over the past five months, representing about 40% of its workforce, as part of a significant cost-cutting initiative. The startup, which operates in the e-commerce and automotive industry, conducted three rounds of layoffs, with the latest in late September affecting 60-70 staff. Facing a funding crunch, heightened competition, and rising operational expenses, BeepKart also halved its physical presence by closing six of its 11 stores in Bengaluru and Chennai. The company, backed by investors like Vertex Ventures and Stellaris Venture Partners, had expanded aggressively but struggled to scale profitably, leading to this restructuring to conserve cash.

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