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Time of India
08-05-2025
- Business
- Time of India
Porter becomes India's second unicorn of 2025 with $200 million fundraise
BENGALURU: Porter , an on-demand logistics platform, has raised $200 million in a Series F round led by Kedaara Capital and Wellington Management, entering India's unicorn club with a valuation of $1.1-$1.2 billion, people familiar with the deal told TOI. The transaction includes a mix of primary and secondary components. This marks the second known unicorn of 2025 from India, following AI-powered fleet safety startup Netradyne, which joined the club earlier this year after a funding round led by SoftBank. India had produced only two unicorns in all of 2025, highlighting the current cautious funding environment amid a global venture slowdown. Founded in 2014, Porter operates in the intra-city and inter-city logistics space, offering services such as on-demand trucks, two-wheelers, enterprise logistics, and packers and movers. Operation Sindoor IC-814 hijacking mastermind Abdul Rauf Azhar killed in Op Sindoor Pahalgam attack: India flays Pak for opposing TRF mention in UN statement Did Pak shoot down Indian jets? What MEA said It currently has operations in 22 Indian cities and a presence in two overseas markets. The company serves over 30 lakh customers and engages with about 3 lakh gig workers monthly. With the fresh capital, Porter aims to expand into additional Indian cities, strengthen its tech stack, and develop infrastructure to support over 1 million gig workers, the company said. 'Porter has built a tech-first platform that delivers reliable logistics solutions at scale in an unorganised and underserved market,' Kedaara Capital's Anant Gupta and Ashutosh Sardesai said in a joint statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Médico revela: 'esse tipo de magnésio está mudando a vida de meus pacientes' AlwaysFit Saiba Mais Undo They cited Porter's asset-light model and operational discipline as key strengths. Wellington Management's Asia sector lead Prakhar Singh said Porter's platform plays a critical role in driving efficiency for MSMEs and gig workers. 'The company's execution-first mindset has helped reorganise a fragmented market from the inside out,' Singh noted. Porter co-founder and CEO Uttam Digga said the company's focus remains on building efficient and inclusive logistics systems. 'This funding gives us momentum to scale sustainable solutions and empower the communities we serve,' he said. Peak XV Partners, an early backer of the company, exited its stake in the round, sources told TOI. Partner Shailesh Lakhani said, 'In many cities, to 'Porter' something now means you're guaranteed reliable delivery. That's a mark of how deeply integrated the platform has become.' Porter's unicorn status comes amid expectations of more late-stage deals in India as investors selectively back companies showing strong unit economics and clear paths to profitability. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
08-05-2025
- Business
- Business Standard
Porter raises $200 mn in Series F round led by Kedaara and Wellington
Porter, India's leading intra-city logistics startup, has raised $200 million in a Series F funding round co-led by private equity firm Kedaara Capital and global asset manager Wellington Management, according to a company statement. Existing investor Vitruvian Partners also participated in the round. The funding, which values the Bengaluru-based firm at approximately $1.2 billion, marks a key milestone for Porter as it doubles down on its technology-led, asset-light logistics platform that serves small businesses and gig workers across urban India. Porter was previously valued at $1 billion in its last fundraising round. Founded in 2014, Porter has emerged as a dominant player in the fragmented intra-city transport space, offering a suite of services that includes on-demand trucking, packers and movers, and enterprise logistics solutions. The company plans to use the fresh capital to scale operations, enhance its tech capabilities, expand its workforce and accelerate efforts to build a sustainable logistics network aligned with India's decarbonisation goals. 'We're thrilled to bring Kedaara and Wellington on board as strategic partners,' said Uttam Digga, co-founder and chief executive officer of Porter. 'This investment will enable us to deepen our impact on MSMEs and gig workers while expanding our footprint and enhancing service quality across cities.' Anant Gupta, partner, and Ashutosh Sardesai, director at Kedaara Capital, called Porter the 'undisputed leader' in intra-city logistics and praised its scalable, tech-enabled approach. The latest funding round positions Porter among India's growing cohort of logistics unicorns, as demand for efficient last-mile freight services continues to surge.
