Latest news with #UttamDigga
Mint
16-05-2025
- Business
- Mint
Peak XV Partners nets over ₹1,200 crore after exiting stake in Porter, clocking 11-fold return
Mumbai: Peak XV Partners netted over ₹1,200 crore after exiting its investment in logistics company Porter's latest funding round, a person familiar with the matter said. The profit was an over 11-fold return on investments of ₹116 crore across multiple rounds over the past decade. 'The company has grown tremendously since our Series A investment in 2015 to now become worth over a billion dollars. After a decade-long partnership with the team, we have exited our investment and express our heartfelt gratitude to the founding team, Uttam Digga, Pranav Goel, and Vikas Choudhary, for being wonderful partners," a spokesperson for Peak XV said, without disclosing the exit value. Porter declined to comment on the stake sale. The Bengaluru-based company joins a growing list of unlisted firms including Rebel Foods, Healthkart, Finova, K12 Techno and Cloudnine Hospitals where Peak has sold partial or full stakes. The venture capital firm has also sold stakes in companies that were headed for public listing or has pared stakes in already listed firms such as Ixigo, Awfis, Go Digit General Insurance, Blackbuck, Zomato, Mamaearth, Truecaller, Indigo Paints, Five Star Business Finance and MobiKwik. Peak has generated about $3.6 billion in cash exits over the past five years and over 30 portfolio companies have gone public. In 2024 alone, it recorded exits to the tune of $1.5 billion, exceeding the amount it invested in the timeframe, the person added. Also Read | Wellington Management may lead Porter's $100 million round in logistics push Porter's round, which was led by Kedaara Capital and Wellington Management and valued the company at $1.2 billion, had a mix of primary and secondary stake sales, with others such as Kae Capital also exiting. Porter said last week it plans to use the funds raised to expand operations, build teams, and develop technology and operational excellence while continuing to set up a greener logistics network aligned with India's decarbonisation efforts. Peak plans Meanwhile, Peak is in early talks to raise up to $1.4 billion by the end of the current financial year for its first India-SEA (Southeast Asia) fund since the split with parent Sequoia Capital. The VC firm expects at least two dozen companies to tap the public market in the next 12-18 months, according to the person. Also Read | Mint Explainer: Can Uber shake up the market Porter dominates? The investment firm expects to back more funds launched by former company executives. Investing in funds is a tried and tested way for new VC and private equity firms to enter a new market. When global investors first started investing in India, they made several investments in Indian fund managers to understand the market before they started making direct investments. Partners at Peak have been investing since 2006 and had access to the US market when they were part of Sequoia Capital. However, this access ended in June 2023, when Sequoia split into three globally. The India and Southeast Asia team became Peak XV Partners. In the past year, the venture capital firm has invested in a handful of seed and early-stage US funds, varying in size from $1 million to $10 million. For the past two years, Peak XV has been building its US presence to regain the access it had as part of Sequoia. One key reason is to help its portfolio companies that are based in the US or have links to the US market. Also Read | Choppy markets take toll on pre-IPO deal talks It has a portfolio of more than 400 companies across financial services, software and artificial intelligence (AI), and consumer internet, and across stages—seed, venture and growth. Almost 150 companies have ties to the US market—either for market access or founded by Indian origin people incorporated in the US.
New Indian Express
08-05-2025
- Business
- New Indian Express
Logistics startup Porter raises $200 million in Series F funding, valuation hits $1.2 billion
BENGALURU: Logistics startup Porter has raised $200 million in a Series F funding round led by Kedaara Capital and Wellington Management. The funding values the firm at about $1.2 billion. In its last fundraising round, the company entered the unicorn club. The latest round included a mix of primary investment in the company and secondary exits to a few existing shareholders. With this fresh capital, the company is set to expand operations across multiple cities, with the goal of reaching millions of MSMEs and enabling opportunities for over 1 million gig workers. Uttam Digga, Co-Founder & CEO, Porter, said, '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."
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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.
Time of India
08-05-2025
- Business
- Time of India
Porter closes $200 million round led by Kedaara Capital, Wellington Management at unicorn valuation
On-demand logistics platform Porter has closed a $200 million financing round led by private equity firms Kedaara Capital and Wellington Management — in a mix of primary and secondary transactions that saw early investors Peak XV Partners and Kae Capital exit from the company. #Operation Sindoor Live Updates| From Sindoor to showdown? Track Indo-Pak conflict as it unfolds India hits Lahore's Air Defence Radars in proportionate response Pakistan tried to hit military targets in these 15 Indian cities, New Delhi thwarts strikes People in the know said that the round was closed at a $1.1-$1.2 billion valuation, making Porter the first unicorn startup of 2025. Existing investor Vitruvian Partners also participated in the round. Around $140-150 million of the total round was in secondaries, one of the persons said. In a statement announcing the funding , Porter's cofounder and CEO Uttam Digga said, 'We are pleased to welcome Kedaara Capital and Wellington Management as our strategic partners. 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'. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories
