Porter Closes Series F Funding Round led by Kedaara Capital and Wellington Management
With the fresh capital, the company is set to expand operations across multiple cities, with the goal of serving millions of MSMEs and enabling livelihood opportunities for over 1 million gig workers.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Porter, the on-demand Goods Transport Agency (GTA), has announced its Series F funding round led by Kedaara Capital and Wellington Management, along with existing investor, Vitruvian Partners. The round included a mix of primary investment in the company and secondary exits to a few existing shareholders.
The company said, with the fresh capital, the company is set to expand operations across multiple cities, with the goal of serving millions of MSMEs and enabling livelihood opportunities for over 1 million gig workers. Porter also plans to channel the capital into team expansion, technological development, and operational excellence, while continuing to build a greener logistics network aligned with national decarbonization efforts.
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.
"We would also like to acknowledge our early investors who played a pivotal role in supporting Porter's growth journey, and we are deeply grateful for their unwavering support, guidance, and belief in our vision throughout this transformative period," said Digga.
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 unorganized 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."
Prakhar Singh, Asia Sector Lead, Wellington Management, added, "We admire Porter's resilience and execution-first mindset, which has helped them create their leadership position in the intra-city logistics space. What sets them apart is how deeply they're embedded in the ecosystem, organizing a largely unstructured market from within, using technology to create meaningful impact for MSMEs and gig workers. We're excited to partner with them as they scale their purpose."
Shailesh Lakhani, MD, Peak XV, said, "When our journey started with Porter 10 years ago, the company was one amongst many in local goods transport. Uttam, Pranav, and Vikas were clear on their vision and approach and why it was the right one. Today, the company is the market leader, and more importantly, has made the process of sending goods reliable, more efficient, and transparent in cities in India and now abroad. In the journey, their name has become a ver,b and to say ''I am Portering it" means the goods will be there soon. We wish the company and their new partners all the best and thank the Company and the management for the partnership."
IndigoEdge acted as the exclusive financial advisor to Porter on this transaction.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gizmodo
2 hours ago
- Gizmodo
Tesla Might Have a Fix for the Elon Musk Problem
Tesla is having a nightmarish year, and much of the damage can be traced directly to its CEO, Elon Musk. After spending nearly $290 million to help Donald Trump return to the White House, Musk took on a tailor-made role in the administration, heading the new Department of Government Efficiency (DOGE). His push to slash federal agencies and cut social programs, combined with his embrace of controversial theories, sparked global protests outside Tesla showrooms. The company's liberal customer base, once its greatest asset, felt alienated, with many owners publicly regretting their purchases. The backlash has been brutal. In the first quarter, Tesla's global sales fell 13%, and its net income plummeted a staggering 71% to $409 million compared to the previous year. The company's stock is down over 20% since January. With early data suggesting the slide isn't stopping, the reputational damage looks deep and lasting, even after Musk's spectacular falling out with the president and departure from the administration. But Tesla may have an escape plan. According to a new report from Bloomberg, the automaker is turning its sights to India. The company is preparing to open its first showroom in Mumbai by mid-July, with another planned for New Delhi shortly after. A first shipment of Chinese-made vehicles, primarily the best-selling Model Y SUV, has already been sent to the country. This move isn't just about expansion; it's a strategic pivot toward the third-largest auto market in the world, a market that could potentially offset cratering demand in Europe and stiffening competition from Chinese rival BYD. For years, Tesla's attempts to enter India have failed, snagged by disagreements over local manufacturing requirements and pricing. The breakthrough appears to have come in February, after Musk met with Indian Prime Minister Narendra Modi during his state visit to Washington. The two leaders spoke again by phone in April. 'Spoke to @elonmusk and talked about various issues,' Modi posted on X. 'We discussed the immense potential for collaboration in the areas of technology and innovation.' Spoke to @elonmusk and talked about various issues, including the topics we covered during our meeting in Washington DC earlier this year. We discussed the immense potential for collaboration in the areas of technology and innovation. India remains committed to advancing our… — Narendra Modi (@narendramodi) April 18, 2025Musk responded enthusiastically, saying, 'I am looking forward to visiting India later this year!' It was an honor to speak with PM Modi. I am looking forward to visiting India later this year! — Elon Musk (@elonmusk) April 19, 2025For a company desperately needing to change the narrative, this pivot to a massive, untapped market could be the lifeline it needs. The question is whether a new chapter in India can be enough to fix the damage done at home. Tesla did not immediately respond to Gizmodo's request for comment.
Yahoo
2 hours ago
- Yahoo
Tesla (NasdaqGS:TSLA) Set To Enter Indian Market With First Showrooms In July
Tesla is set to make a significant shift, entering the Indian market in July 2025 with new showrooms. This expansion comes at a time when the company's stock price rose by 30% over the last quarter, amid flat market performance in the past week and a 10% rise over the past year. The entry into India is aimed at countering declining sales in Europe and China, which could have influenced investor sentiment. Despite challenges such as a recent lawsuit and executive changes, this regional expansion might add weight to the broader market uptrend. Tesla has 2 risks we think you should know about. The best AI stocks today may lie beyond giants like Nvidia and Microsoft. Find the next big opportunity with these 27 smaller AI-focused companies with strong growth potential through early-stage innovation in machine learning, automation, and data intelligence that could fund your retirement. The recent announcement of Tesla's expansion into the Indian market is a significant development that could influence its broader growth narrative. Despite facing challenges in other regions, this move may provide a new revenue stream, potentially mitigating some of the pressures from decreasing sales in Europe and China. Over the past five years, Tesla's shares have seen a very large total return of 403.51%, illustrating substantial long-term growth. When comparing to the previous year, Tesla's share return also surpassed the market, which returned 10%, and the US Auto industry, which posted a 60.9% gain over the past year. This suggests persistent investor confidence in Tesla, supporting its trajectory even amid short-term volatility. The strategic entry into a new market such as India might bolster revenue and earnings forecasts, as analysts anticipate a 16.6% annual revenue growth over the next three years. However, potential risks including geopolitical uncertainties and leadership changes could impact execution. With Tesla's current share price at US$275.35, it is trading close to the analyst consensus price target of US$289.44, suggesting a modest upside of 4.9%. This share price movement reflects mixed sentiments among investors regarding the balance of growth potential and inherent risks. Tesla's diverse initiatives, ranging from autonomous vehicles to energy solutions, underline its pursuit of long-term profitability, suggesting a complex interplay of factors influencing its market position. Gain insights into Tesla's outlook and expected performance with our report on the company's earnings estimates. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:TSLA. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Connectez-vous pour accéder à votre portefeuille
Skift
5 hours ago
- Skift
Indian Regulator Cites Air India for Past Safety Lapses, Removes 3 Officials
While the June 12 crash is a separate issue, wider scrutiny of safety practices may bring more such checks in the coming months. Skift's coverage of the Air India crash is offered free to all readers. India's aviation regulator on Saturday ordered Air India to remove three senior employees from crew scheduling duties, citing previous violations of pilot rest and licensing rules. The action is not directly related to the June 12 crash of AI 171 crash in Ahmedabad, which brought additional scrutiny to Air India's operations. The Directorate General of Civil Aviation (DGCA) said multiple violations were discovered after Air India switched its internal crew scheduling software last year. 'Repeated and serious violations (were) voluntarily disclosed by M/s Air India concerning flight crew being scheduled and operated despite lapses in licensing, rest, and recency requirements,' the DGCA said. In aviation, "recency" refers to the requirement for pilots to have recently performed takeoffs and landings or simulator sessions to maintain valid licenses. The regulator said the findings point to systemic failures in crew scheduling and internal oversight. Who Was Held Responsible? The DGCA ordered Air India to remove three officials from operational roles and launch disciplinary action against them within 10 days. One was Vice President of the Integrated Operations Control Centre (IOCC), the central hub of an airline's day-to-day operations that brings together key departments like crew scheduling, maintenance, and network planning to ensure flights run safely and in line with regulations. In a short statement, Air India said it has followed the regulator's order. 'We acknowledge the regulator's directive and have implemented the order. In the interim, the company's Chief Operations Officer will provide direct oversight to the IOCC,' an Air India spokesperson said. No further details were shared by the airline. The DGCA order also warned that, 'Any future violation... will attract strict enforcement action, including but not limited to penalties, license suspension, or withdrawal of operator permissions.' A Show-Cause Notice In a separate but related matter, the DGCA also issued a show-cause notice to the airline. This was for Flight AI133 from Bengaluru to London on May 16 and 17. DGCA said both flights had exceeded the 10-hour limit set for crew flight time, a clear violation of existing safety rules. The DGCA said the airline must explain why action should not be taken for these violations. If Air India fails to reply within seven days, the DGCA could act on the matter without further input. In an update on Saturday, Air India said it has started releasing interim financial support to families affected by the June 12 crash of its Boeing 787-8 aircraft in Ahmedabad. The airline had announced an interim payment of INR 2.5 million (around $29,000) each to the families of the deceased and to the sole survivor, to help address immediate financial needs. This amount is separate from the INR 10 million (approximately $116,000) support already announced by Tata Sons. The airline said a centralized help desk, set up on June 15, is managing the compensation process. This single-window system is helping families by speeding up paperwork and guiding them through the claim process. 'The interim compensation began being released from 20 June 2025,' Air India said. 'Three families have received payments so far, and the remaining claims are currently being processed.' The help desk is also working with local authorities and insurance representatives to avoid delays and reduce the burden on families during this period.
