Porter, on-demand goods transport agency (GTA), has raised its Series F funding round led by Kedaara Capital and Wellington Management. The round has also seen participation from existing investor, Vitruvian Partners.

The round included a healthy mix of primary investment and secondary exits to few existing shareholders. The company did not disclose the financial terms of the deal, but Porter had last raised nearly $100 million in a Series E funding round in October 2021, at a valuation of $500 million.

Porter plans to deploy the new funding to expand operations across multiple cities, aiming to serve millions of MSMEs and enable livelihood opportunities for over 1 million gig workers.

Besides, it will channel the funds toward team expansion, technology development, and operational improvements, while keeping the sustainability part intact.

Founded in 2014 by Pranav Goel, Vikas Chaudhary, and Uttam Digga, Porter offers services such as distance-based allocation, GPS tracking, and proactive notifications to empower its driver partners.

Uttam Digga, Co-Founder & CEO, Porter, said, “We are pleased to welcome Kedaara Capital and Wellington Management as our strategic partners. Since our inception, we have been committed to making urban logistics more efficient, intelligent, and inclusive — supporting MSMEs, empowering gig workers, and strengthening the communities we serve. With this, we look forward to accelerating our growth and building world-class, sustainable logistics solutions for businesses and communities across the globe.”

Anant Gupta, Partner and Ashutosh Sardesai, Director at Kedaara Capital, said, “We are excited to partner with Porter, the undisputed leader in India’s intra-city logistics space. In a largely unorganised and underserved market, Porter has built a tech-first, asset-light platform that delivers seamless, reliable logistics solutions at scale. Their strong execution, deep market understanding, and unwavering focus on customer and partner experience have created significant network advantages. We look forward to supporting Uttam, Pranav, and the entire Porter team as they continue to drive innovation, empower driver-partners, and expand their leadership across India’s intra-city logistics ecosystem.”

It counts Tiger Global, Peak XV, Lightrock and Kae Capital among investors. Porter competes with the likes of Shadowfax, Pidge, Lets Transport, cityXfer, and others.

Wellington has made multiple bets on India’s logistics sector, including investments in online trucking platform Blackbuck and food delivery firm Swiggy, both of which went public last year. Some of its other investments in startups include Go Digit, Urban Company, and Policy Bazaar.

Currently the company is operational across 22 cities in India and 2 countries. Meanwhile, the logistics sector in India is growing at an annual rate of 10–12 per cent, contributing 14.4 per cent to India’s GDP and employing more than 20 million people, according to the latest Grant Thornton Bharat report.

Published on May 8, 2025