Porter Raises $200 Million, Joins Unicorn Club with $1.2 Billion Valuation

Porter, an on-demand urban logistics platform serving MSMEs and gig workers across India, has raised $200 million in a Series F funding round led by private equity firms Kedaara Capital and Wellington Management, with participation from existing investor Vitruvian Partners. The round included a mix of primary and secondary investments, with early investors Peak XV Partners and Kae Capital exiting, and valued Porter at approximately $1.1-$1.2 billion, marking it as a unicorn startup. Founded in 2014, Porter offers intra-city logistics solutions using mini-trucks and two-wheelers, operating in over 15 cities. The fresh capital will enable Porter to expand into more cities, enhance technology and operations, support over 1 million gig workers, and continue building sustainable logistics aligned with national decarbonization goals. CEO Uttam Digga emphasized the company’s commitment to making urban logistics more efficient, intelligent, and inclusive, aiming to empower MSMEs and strengthen communities. Kedaara Capital highlighted Porter’s leadership in India’s largely unorganized intra-city logistics market and expressed enthusiasm about partnering with the company to scale its tech-first platform.