Porter, an on-demand goods transport agency (GTA), has officially announced the completion of its Series F funding round, spearheaded by Kedaara Capital and Wellington Management, alongside contributions from existing investor Vitruvian Partners. This funding round comprised a combination of primary investments and secondary exits for select current shareholders.
With this new influx of capital, Porter aims to broaden its operations across various cities, aspiring to support millions of MSMEs and provide livelihood opportunities for over 1 million gig workers. Additionally, the company intends to invest in team expansion, technological advancements, and operational efficiency, while continuing to develop a sustainable logistics network in line with national decarbonization initiatives.
Uttam Digga, Co-Founder and CEO of Porter, stated, “We are thrilled to welcome Kedaara Capital and Wellington Management as strategic partners. Since our founding, we have focused on enhancing urban logistics’ efficiency, intelligence, and inclusivity, aiding MSMEs, empowering gig workers, and strengthening the communities we serve. We are excited to accelerate our growth and create world-class, sustainable logistics solutions for businesses and communities globally.”
“We also want to express our gratitude to our early investors, whose support has been crucial in our growth journey. We appreciate their steadfast belief in our vision throughout this transformative phase,” Digga added.
Anant Gupta, Partner, and Ashutosh Sardesai, Director at Kedaara Capital, remarked, “We are eager to collaborate with Porter, the leading name in India’s intra-city logistics sector. In a largely unorganized and underserved market, Porter has established a tech-driven, asset-light platform that provides seamless and reliable logistics solutions at scale. Their impressive execution, comprehensive market knowledge, and unwavering commitment to enhancing customer and partner experiences have resulted in considerable network advantages. We look forward to supporting Uttam, Pranav, and the entire Porter team as they continue to foster innovation, empower driver-partners, and strengthen their leadership in India’s intra-city logistics landscape.”
Prakhar Singh, Asia Sector Lead at Wellington Management, mentioned, “We are impressed by Porter’s resilience and execution-oriented approach, which has helped them secure a leadership role in the intra-city logistics market. Their ability to embed themselves in the ecosystem and organize a largely unstructured market using technology to create a meaningful impact on MSMEs and gig workers sets them apart. We are excited to partner with them as they scale their mission.”
Shailesh Lakhani, Managing Director at Peak XV, reflected, “When we began our journey with Porter a decade ago, the company was just one of many local goods transporters. Uttam, Pranav, and Vikas had a clear vision and approach, and it was evident why it was the right path. Today, the company stands as the market leader, making the process of transporting goods reliable, efficient, and transparent in cities across India and beyond. Their name has become synonymous with reliability, with ‘I am Portering it’ indicating prompt delivery. We wish the company and their new partners all the best and thank them for this partnership.”
IndigoEdge served as the exclusive financial advisor to Porter for this transaction.