Logistics startup Porter has successfully raised $200 million in its Series F funding round, led by Kedaara Capital and Wellington Management. This funding round brings the company’s valuation to approximately $1.2 billion, marking a significant milestone after entering the unicorn club during its previous funding round.
Investment Details and Growth Plans
The recent funding round included a combination of primary investment and secondary exits for a few existing shareholders. With this fresh capital, Porter plans to expand its operations in various cities, aiming to cater to millions of MSMEs and create opportunities for over 1 million gig workers.
Company Vision and Future Goals
Uttam Digga, Co-Founder and CEO of Porter, shared, “Since our inception, we have been committed to making urban logistics more efficient, intelligent, and inclusive — supporting MSMEs, empowering gig workers, and strengthening the communities we serve.”
Expert Opinions on Porter’s Progress
Anant Gupta, Partner, and Ashutosh Sardesai, Director at Kedaara Capital, commented, “In a largely unorganized and underserved market, Porter has built a tech-first, asset-light platform that delivers seamless, reliable logistics solutions at scale.”
Plans for Expansion and Technological Development
Founded in 2014, Porter intends to use the capital for team expansion, technological advancements, and operational efficiency.
Shailesh Lakhani, Managing Director at Peak XV, reflected on the company’s growth, stating, “When our journey started with Porter 10 years ago, the company was one amongst many in local goods transport. Today, Porter is the market leader, making the process of sending goods more reliable, efficient, and transparent, both in India and internationally.”
Current Operations and Market Reach
Porter has now completed 10 years in business and is operational across 22 cities in India, along with expanding to two international markets.
