Samreen Ahmad · · 1 min readIndia’s 1K Kirana confirms laying off 40% of workforce
Photo credit: Vinoth Chandar / Wikimedia Commons
India-based 1K Kirana, an omnichannel grocery tech startup, has confirmed to Tech in Asia that it is laying off 40% of its workforce.
The news was first reported by DealStreetAsia yesterday.
Kumar Sangeetesh, founder and CEO of 1K Kirana, said this retrenchment was done as the startup’s “growth forecasts have changed.”
The company’s LinkedIn page shows that it has 1,052 employees, which means about 400 employees will be affected.
Sangeetesh added that 1K Kirana would have to “move out of a few geographies” but didn’t provide additional details.
Founded in 2018, the startup aims to digitize the 13 million wide kirana (mom and pop stores) network in India. It competes with the likes of Khatabook, ElasticRun and Jumbotail.
In May 2022, 1K Kirana raised US$25 million from investors such as Alpha Wave Ventures, Info Edge Ventures, and Kae Capital.
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Editing by Thu Huong Le and Lorenzo Kyle Subido
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