Porter

CCI clears Kedaara Capital's stake acquisition in logistics firm Porter

The Competition Commission of India (CCI) on Tuesday cleared a proposal by private equity firm Kedaara Capital to acquire a stake in SmartShift Logistics Solutions, the parent company of on-demand logistics-turned-unicorn Porter. Mumbai-based Kedaara Capital is acquiring a stake through its two affiliates Kedaara Sapphire Holding and Kedaara Capital Fund IV AIF in Porter. "CCI approves the acquisition of a certain stake in SmartShift Logistics Solutions Pvt Ltd jointly by Kedaara Sapphire Holding and Kedaara Capital Fund IV AIF," the competition watchdog said in a post on X. Porter is primarily engaged in business activities, including the provision of logistics services, packing and moving services. In May this year, Porter announced that it raised USD 200 million in a Series F funding round co-led by Kedaara Capital and Wellington Management at a valuation of USD 1.2 billion. Meanwhile, Porter's early investors venture capital firm Peak XV Partners (formerly Sequoia Capital Indi

Logistics startup Porter to expand to 50 cities by 2030: Pranav Goel

In the next five years, we will move from 20 lakh SMEs (small and medium enterprises) who come to the platform every month to servicing more than one crore customers, says Goel

Porter raises $200 mn in Series F round led by Kedaara and Wellington

Porter has raised $200 million in a Series F round led by Kedaara and Wellington to scale operations, deepen impact on MSMEs, and build a green logistics network

Porter expects biz to grow by 60%, reach operational profit by Dec 2024

Logistics services startup Porter expects its business to grow by 60 per cent to reach about Rs 3,000 crore in revenue in the current financial year on account of expansion in the category, a top company official said. The Tiger Global and Lightrock ventures-backed startup expects to become operationally profitable by December 2024, Porter Co-Founder and COO Uttam Digga told PTI. "We continue to grow at 60-70 per cent year-on-year and I think that is going to continue for the coming one or two years more. This fiscal we expect. This year Porter is hoping to have a 60 per cent growth. The company will be close to making a Rs 3,000 crore revenue," Digga said. Porter at present provides instant delivery of up to 20 kg on two-wheelers, house shifting, mini trucks, three-wheelers etc for delivery of goods and it has recently forayed into courier service. The company currently operates in about 19 cities. "There are two levers for us to grow the business. One is category expansion. This

Porter completes divestment of Modern Trade business to COGOS Technologies

This move aims at ensuring continuity of the business vertical with COGOS, an enterprise-led business model and strengthening Porter's focus on its core business solutions

Meet Porter, an Uber-like service for pick-up and delivery of goods

The 'Porter' app aims to solve the logistics constraint faced by start-ups and old business alike