Porter, the logistics startup, has raised $200 million in a Series F round led by Kedaara Capital and Wellington Management, catapulting its valuation to about $1.2 billion. This recent round follows the earlier one, which put the company on the unicorn club.

The latest investment includes both core funding for the company and secondary exits for certain current shareholders. Porter will use this new capital to grow its business in multiple cities, reaching millions of MSMEs and offering opportunities to more than 1 million gig workers.

Uttam Digga, Co-Founder and Porter CEO, said, "We have been committed to making urban logistics smarter, more efficient, and inclusive—enabling MSMEs, enabling gig workers, and enriching the communities we serve since day one."
Anant Gupta, Partner, and Ashutosh Sardesai, Director, at Kedaara Capital said, "With a significantly unorganized and underpenetrated market, Porter has created a tech-enabled, asset-light platform offering seamless and trustworthy logistics at scale."

Founded in 2014, Porter plans to utilize the new funds for team expansion, technological advancements, and operational excellence. Shailesh Lakhani, MD of Peak XV, noted, "When our journey with Porter began 10 years ago, the company was just one of many in local goods transport. Today, it stands as the market leader, having made the process of sending goods more reliable, efficient, and transparent in cities across India and now internationally."

Porter has had its first ten years of operations and is presently in business in 22 cities around India and in two additional countries.