Porter Becomes Unicorn with $200M Raise, Eyes Growth in Urban Logistics

Porter, the on-demand urban logistics platform, has joined India’s unicorn club after raising $200 million in a new funding round. The investment, led by Kedaara Capital and Wellington Management, reflects the company’s rapid growth, operational improvements, and expanding footprint in the Indian logistics landscape, as per Economic Times report. 

Porter Raises $200 Million in Funding from Kedaara and Wellington 

Porter’s latest funding round includes both primary and secondary transactions. Of the $200 million raised, around $140–150 million came from secondary sales—allowing early investors like Peak XV Partners to fully exit, and Kae Capital and Lightrock to partially cash out. Existing investor Vitruvian Partners also participated.

This new investment round values Porter between $1.1 billion and $1.2 billion, up from $500 million in its previous 2021 round led by Tiger Global—marking a more than 2x jump in valuation in just four years.

Porter Revenue Grows to ₹4,000 Crore in FY25, Losses Narrow 

Founded in 2014 by Uttam Digga, Pranav Goel, and Vikas Choudhary, Porter offers intra-city logistics solutions including mini-trucks and two-wheeler deliveries, largely serving MSMEs. It has expanded to over 22 Indian cities and ventured into P2P parcel delivery, entering a market previously led by Dunzo and now contested by players like Uber and Rapido. 

Financially, Porter has shown significant improvement. Revenue surged to ₹4,000 crore in FY25, up from ₹2,766 crore in FY24. Net loss narrowed to ₹96 crore, a substantial reduction from ₹175 crore in FY23. 

Leadership Change at Porter: Uttam Digga Takes Over as CEO 

In August 2023, Porter underwent a key leadership shift. Uttam Digga became CEO, while cofounder Pranav Goel took on the role of Vice Chairman. The new leadership structure has focused on expanding Porter’s service offerings, enhancing technology capabilities, and maintaining capital-efficient growth. 

Porter’s CEO reiterated their mission to make urban logistics efficient, intelligent, and inclusive, emphasising support for MSMEs and gig workers, as well as stronger community engagement. 

Read More:15-Minute EV Charging Is Here: Exponent Energy Powers the Electric Vehicle Future. 

Conclusion 

Porter’s ascent to unicorn status is not just a funding story—it reflects the growing demand for tech-enabled urban logistics in India. With a sharpened focus, a leaner cost structure, and expanding services, Porter is well-positioned to lead the next wave of logistics innovation in the country. 

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