Porter has completed a Series F funding round led by Kedaara Capital and Wellington Management, aiming to expand its operations and enhance technology in the rapidly growing Indian logistics market.

Target Information

Porter, a leading on-demand goods transport agency founded in 2014 by Pranav Goel, Vikas Chaudhary, and Uttam Digga, has successfully completed its Series F funding round. This latest round was led by Kedaara Capital and Wellington Management, with participation from existing investor Vitruvian Partners. Although the financial specifics of the deal were not disclosed, Porter had previously raised nearly $100 million in its Series E funding round in October 2021, achieving a valuation of $500 million.

Porter leverages advanced technology to provide a variety of services, including distance-based allocation, GPS tracking, and proactive notifications, all designed to empower its driver partners. With the new capital, Porter aims to expand its operations across numerous cities and serve millions of micro, small, and medium enterprises (MSMEs), while also creating livelihood opportunities for over one million gig workers.

Industry Overview

The logistics sector in India is undergoing rapid growth, currently expanding at an annual rate of 10–12%. According to a recent report by Grant Thornton Bharat, this sector contributes approximately 14.4%