Indian Grocery Startup Apna Mart Cuts 10% of Workforce After Funding Round

According to The Economic Times, Indian grocery delivery startup Apna Mart recently cut about 10% of its workforce, affecting 35 to 40 employees, amid AI-led automation and a headquarters shift from Bengaluru to Gurugram. The company said affected employees would receive severance equal to two months of salary.

Apna Mart attributed some layoffs to roles no longer needed as AI now handles that work, while other employees were unable to relocate. The restructuring follows a 2.1 billion rupees (US$25 million) funding round that valued the company at approximately 7.4 billion rupees (US$77.6 million). Founded by Abhishek Singh and Chetan Garg, Apna Mart operates an omnichannel grocery business across 10 cities in eastern and central India.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

Related Articles

Indian Cybersecurity Firms Use AI to Cut Vulnerability Testing to Hours

Indian cybersecurity firms including Indusface and Astra Security are adopting AI agents built on large language models to accelerate software vulnerability testing from days or weeks to hours, according to The Economic Times. The shift reflects growing attacker speed and AI tools' emerging ability

CryptoFrontier5h ago

Solana Foundation and Google Cloud Launch Pay.sh AI Payment Gateway Supporting 50+ API Providers

According to Odaily, Solana Foundation and Google Cloud have jointly launched Pay.sh, an AI payment gateway that enables AI agents to call API services using on-chain stablecoins on a per-request basis without requiring traditional accounts. Built on the x402 protocol and supporting Tempo and

GateNews7h ago

WorldClaw and WLFI Launch WorldRouter, Offering Access to 300+ AI Models at 30% Lower Cost

According to Foresight News, AI Agent operating system WorldClaw has partnered with Trump family crypto project WLFI to launch WorldRouter. The platform enables users to access over 300 mainstream AI models through a single account, with fees approximately 30% lower than the respective model

GateNews8h ago

Epic Angels Backs Enaxiom in $1.8M Seed Round for AI Data Center Cooling Tech

According to Epic Angels, Enaxiom closed a US$1.8 million seed round on May 6 backed by Epic Angels, BlackNova, and Antler, bringing its total funding to US$2.7 million. The Australian deep tech startup develops HydroCool, a cooling system for AI data centers that uses non-potable water and

GateNews9h ago

Cipher Digital Posts $114 Million Q1 Loss as Bitcoin Miner Accelerates AI Data Center Pivot

According to The Block, Cipher Digital posted a net loss of $114 million in Q1 2026, more than double the $39 million loss from Q1 2025, as the bitcoin miner accelerates its pivot to AI infrastructure. Bitcoin mining revenue fell to $35 million from $49 million year-over-year. The company signed its

GateNews17h ago

Oobit Launches AI-Driven USDT Visa Cards for Businesses on May 5

According to Oobit, on May 5, the payments platform supported by Tether launched virtual Visa cards that enable AI agents to autonomously conduct transactions using USDT. The cards allow AI-driven systems to execute spending decisions without direct human intervention, marking a significant step

GateNews17h ago
Comment
0/400
No comments