PE Fund Investments
Hyperlocal logistics co. Porter closes Series F round led by Kedaara, Wellington Management
Bengaluru-based hyperlocal logistics startup Porter has closed its Series F funding round led by Kedaara Capital and Wellington Management. The round, which is a mix of primary and secondary investments, also saw participation from existing investor Vitruvian Partners.The primary funds will be used by Porter to expand to more cities, support MSMEs (micro, small and medium enterprises), and create opportunities for over a million gig workers. The funds will also be channelled towards team expansion, technology development, and operational improvements.Founded in 2014 by Pranav Goel, Vikas Chaudhary, and Uttam Digga, Porter offers services such as distance-based allocation, GPS tracking, and proactive notifications to empower its driver partners.
Between Apr 2015 and Mar 2022, The Porter had attracted about USD 152 M from Kae Capital, Peak XV Partners, Claris Capital, Dominor Investment, Mahindra Partners, Lightrock India, Tiger Global, Vitruvian Partners and others.For FY24, The Porter had reported about INR 2,734 Cr in Operating Income and about INR 96 Cr in Net Loss.
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