Logistics Startup Porter Raises $200 Mn In Series F Round, Becomes 2nd Unicorn Of 2025

Logistics startup Porter has secured $200 million in a Series F funding round led by Kedaara Capital and Wellington Management. 

This new round included both fresh investment in the company and some existing investors selling their shares.

With the new funds, the company plans to grow into more cities, aiming to support millions of small businesses and create opportunities for over 1 million gig workers.

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After this funding round, the startup was valued between $1.1 billion and $1.2 billion. This makes Porter the second unicorn of the year, following Netradyne.

“We’re thrilled to bring Kedaara and Wellington on board as strategic partners,” said Uttam Digga, co-founder and chief executive officer of Porter. “This investment will enable us to deepen our impact on MSMEs and gig workers while expanding our footprint and enhancing service quality across cities.”

Anant Gupta, Partner, and Ashutosh Sardesai, Director, at Kedaara Capital, said, “In a largely unorganized and underserved market, Porter has built a tech-first, asset-light platform that delivers seamless, reliable logistics solutions at scale."

About Porter 

Founded in 2014 by Pranav Goel, Vikas Chaudhary and Uttam Digga, Porter has become a leading company in the local transport sector, offering services like on-demand trucks, packers and movers, and logistics solutions for businesses.

Porter reduced its net loss by 45%, bringing it down to Rs 95.7 crore in FY24 from Rs 174.6 crore the year before, thanks to lower spending. Its operating revenue grew by 56%, reaching Rs 2,733.7 crore compared to Rs 1,737.4 crore in the previous year.

Last year, it also joined ONDC to meet the rising demand for hyperlocal deliveries.

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