Private Equity Fund Investments
Intra-city logistics co The Porter raises Rs.750-Cr from Tiger Global, Vitruvian Partners, others
The Porter, a Bengaluru-based intra-city logistics marketplace, has raised INR 750 crore (about USD 100 million) in Series E funding from Tiger Global Management and Vitruvian Partners, with participation from Sequoia Capital India and Lightrock India. The company will use the funds to acquire talent and expand operations in 35 cities by 2023. Founded in 2014, The Porter has launched services like on-demand marketplace for light commercial vehicles (LCVs) and bikes, Porter for Enterprise and Packers & Movers.
From the Venture Intelligence PE-VC Deal Database: Between 2015 and 2020, The Porter had attracted about $50-M from Lightrock India, Mahindra Partners, Kae Capital, Sequoia Capital India and Claris Capital. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
