Porter closes Series F funding round led by Kedaara Capital, Wellington Management
Porter plans to use the fresh capital to expand operations, serve MSMEs, and provide opportunities to more than 1 million gig workers.
On-demand goods transport agency has closed its Series F funding round led by Kedaara Capital and Wellington Management.
The round, which also saw participation from existing investor Vitruvian Partners, saw a mix of primary investment and secondary exits to few existing shareholders, the company said in a statement.
Porter plans to use the fresh funds to expand its operations across various cities, and aims to serve millions of MSMEs and provide opportunities to over a million gig workers.
Additionally, the company plans to use the capital pool for team expansion, technological development and operational excellence, it added.
“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. With this, we look forward to accelerating our growth and building world-class, sustainable logistics solutions for businesses and communities across the globe,” said Uttam Digga, Co-founder and CEO, Porter.
IndigoEdge acted as the exclusive financial advisor to Porter on this transaction, the company said.
“In a largely unorganised and underserved market, Porter has built a tech-first, asset-light platform that delivers seamless, reliable logistics solutions at scale,” said Anant Gupta, Partner, and Ashutosh Sardesai, Director at Kedaara Capital.
Founded in 2014, Porter completed 10 years in business and has its logistics presence across 22 cities in India and two other countries. It sees more than 30 lakh customers and 3 lakh gig workers every month in India, the company said.
Edited by Kanishk Singh