Kedaara Capital Receives CCI Nod to Acquire Stake in Porter

India’s logistics technology sector continues to attract strong private equity interest, with Porter emerging as a key player. In the latest development, Kedaara Capital has received clearance from the Competition Commission of India (CCI) to acquire a stake in SmartShift Logistics Solutions, the parent company of Porter. This investment follows Porter's recent unicorn status and signals deeper investor confidence in the sector’s long-term potential.

CCI Grants Approval for Kedaara’s Strategic Investment

On Tuesday, the Competition Commission of India (CCI) cleared the acquisition of a stake in SmartShift Logistics Solutions Pvt Ltd, the parent entity of on-demand logistics platform Porter, by private equity firm Kedaara Capital. The investment is being made through two of Kedaara’s affiliates: Kedaara Sapphire Holding and Kedaara Capital Fund IV AIF.

"CCI approves the acquisition of a certain stake in SmartShift Logistics Solutions Pvt Ltd jointly by Kedaara Sapphire Holding and Kedaara Capital Fund IV AIF," the CCI announced in a post on X. The commission’s approval was necessary as the deal crossed the regulatory threshold and had to be evaluated to ensure it did not harm competition in the market.

Porter's Rapid Growth and Investor Interest

Porter, which provides logistics, packing, and moving services, has seen significant momentum in 2025. In May, the company raised $200 million in a Series F funding round co-led by Kedaara Capital and Wellington Management, which valued the firm at $1.2 billion. This funding milestone elevated Porter to unicorn status, joining the ranks of Netradyne and Juspay as India’s unicorns of 2025.

As part of this round, early investors Peak XV Partners (formerly Sequoia Capital India & SEA) and Kae Capital exited the company. Porter’s key competitors in the logistics space include Shadowfax, Pidge, and cityXfer, as it continues to expand its footprint in India’s fast-growing logistics sector.

Read More: Danish and Cyprus Shipping Firms to Invest ₹10,000 Crore in Indian Maritime Industry!

Conclusion

The CCI’s clearance marks a significant step in Kedaara Capital’s strategic entry into India’s dynamic logistics sector through Porter. With fresh funding and new strategic backers, Porter is well-positioned to scale its operations further in a highly competitive market.

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