On-demand logistics company Porter has raised Rs 750 crore in its Series E funding round led by Tiger Global Management and Vitruvian Partners, with participation from existing investors — Sequoia Capital India and Lightrock India.
Founded in 2014 by Pranav Goel, Uttam Digga, and Vikas Choudhary, Mumbai-based Porter is a logistics marketplace that allows businesses to book vehicles on demand for completing their intra-city logistics needs. Currently, Porter works with ecommerce, FMCG, SMEs, traders, 3PLs, courier, and cargo companies. It disrupted various domains of logistics by launching an on-demand marketplace for LCVs and bikes — Porter for Enterprise and Packers and Movers.
Talking about the funding, Pranav Goel, CEO, Porter said, “We are excited to welcome the two marquee global funds with a great track record of backing enduring businesses world over. This funding round, in the current economic scenario, is a testament of the execution of the entire Porter team.”