Peak XV Partners has exited its investment in logistics startup Porter, achieving an impressive 11-fold return and netting over ₹1,200 crore. The venture capital firm had invested ₹116 crore across multiple funding rounds over the past decade, starting with Porter’s Series A in 2015
Porter’s Growth and Recent Funding
Porter, an on-demand truck booking and hyperlocal logistics company, recently raised $200 million in a Series F funding round led by Kedaara Capital and Wellington Management, valuing the company at $1.2 billion. This round included both primary and secondary share sales, with Peak XV Partners and Kae Capital selling their stakes to new investors
The company plans to use the funds to expand operations, build teams, and develop technology and operational excellence while continuing to set up a greener logistics network aligned with India’s decarbonization efforts .
Peak XV’s Investment Strategy and Exits
Peak XV Partners, formerly known as Sequoia Capital India, has been actively managing its portfolio, with over 30 companies going public in the past five years and generating about $3.6 billion in cash exits . The firm has also exited investments in companies such as Rebel Foods, Healthkart, Finova, K12 Techno, and Cloudnine Hospitals .
In 2024 alone, Peak XV recorded exits totaling $1.5 billion, exceeding the amount it invested during the same period . The firm is currently in early talks to raise up to $1.4 billion by the end of the current financial year for its first India-Southeast Asia fund since its split from Sequoia Capital .
Porter’s Financial Performance
For the fiscal year ending March 2024, Porter’s revenue from operations rose by 55.9% to ₹2,733.8 crore. Despite increasing expenses, the company managed to reduce its losses by 45% to ₹95.7 crore from ₹174.6 crore in FY23. Porter’s overall scale is projected to grow by 55% to ₹4,300 crore in FY25 .Entrackr