Porter to raise additional $110 Mn in extended round at $1.2 billion valuation: Report

Months after entering the unicorn club, logistics giant Porter is reportedly in advanced talks to raise an additional $100–110 Mn in its extended Series F funding round.

According to ET report, the fresh infusion will take the total funding in this round to $300–310 Mn, citing sources.

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In this round, existing investor Vitruvian Partners, Elev8 Partners, and a group of prominent Mumbai-based stock market investors are set to acquire stakes in the logistics platform.

In May, Porter raised $200 Mn (₹1,700 Cr) in a round led by Kedaara and Wellington Management, valuing the company at $1.2 Bn (₹10,500 Cr). Now, in its extended Series F, Vitruvian Partners, Elev8 Partners, and leading Mumbai-based stock market investors are set to acquire stakes, taking the round to $300–310 Mn.

Founded in 2014 by Pranav Goel, Vikas Chaudhary, and Uttam Digga, Porter operates a fleet of over 7.5 lakh driver-partners across 23 cities, offering on-demand transport, packers and movers, and courier services.

Serving 30 lakh+ customers, including 20 lakh SMEs, it aims to scale its SME base to 1 crore by 2030, grow its driver network to 12 lakh, and adopt more EVs for sustainability. The logistics unicorn is also preparing for an IPO within  12–15 months. Financially, it reduced its FY24 net loss by 45% to ₹95.7 Cr from ₹174.6 Cr in FY23.

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