Porter, a Bengaluru-based on-demand logistics platform, has secured $200 million in its Series F funding round, propelling the company into the coveted unicorn club with a valuation of approximately $1.2 billion. The funding round was led by private equity firms Kedaara Capital and Wellington Management, with participation from existing investor Vitruvian Partners.
Background: Porter’s Journey to Unicorn Status
Founded in 2014 by IIT graduates Pranav Goel, Uttam Digga, and Vikas Choudhary, Porter offers intra-city logistics solutions, including on-demand trucking, two-wheeler deliveries, and packers and movers services. The platform primarily serves micro, small, and medium enterprises (MSMEs) and has expanded its presence to over 22 cities in India.
In its previous funding round in October 2021, Porter raised $100 million led by Tiger Global and Vitruvian Partners, valuing the company at around $500 million.
Funding Details and Investor Exits
The $200 million raised in the latest round comprises both primary and secondary transactions. Approximately $50–80 million is primary capital that will go directly into the company’s operations, while the remaining $120–150 million represents secondary share sales by existing shareholders.
Notably, early investors Peak XV Partners (formerly Sequoia Capital India) fully exited their positions, while Kae Capital and Lightrock partially offloaded their stakes.
Strategic Use of Funds
Porter plans to utilize the fresh capital to:
- Expand its operations to additional Indian cities and two overseas markets.
- Enhance its technology capabilities to improve service quality.
- Increase its workforce and partner network, aiming to support over 1 million gig workers.
Uttam Digga, Co-Founder & CEO of Porter, stated, “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.
Financial Performance
Porter’s operating revenue for the fiscal year 2024–25 surged to over ₹4,000 crore, up from ₹2,766 crore in the previous fiscal year. The company’s net loss also reduced to ₹96 crore in FY24, down from ₹175 crore in FY23, indicating a move towards profitability.
Industry Impact and Future Outlook
With this funding, Porter becomes India’s second unicorn of 2025, following AI-powered fleet safety startup Netradyne. The achievement underscores the growing importance of tech-enabled logistics solutions in India’s rapidly evolving e-commerce and MSME sectors. Entrackr
Anant Gupta, Partner 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.”
