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Exclusive: Porter turns profitable with over Rs 4,000 Cr revenue in FY25

EntrackrEntrackr · 1m ago
Exclusive: Porter turns profitable with over Rs 4,000 Cr revenue in FY25
Medial

Exclusive: Porter turns profitable with over Rs 4,000 Cr revenue in FY25 After recording a 56% year-on-year growth in FY24, on-demand intra-city logistics platform Porter has delivered another strong performance in FY25, posting nearly 50% growth and turning profitable, according to three sources and some documents reviewed by Entrackr. Porter revenue from operations grew to 4,300 crore in the fiscal year ending March 2025 from Rs 2,734 crore in FY24, as per the documents. Porter provides a full-stack logistics platform to help businesses optimize their last-mile delivery operations. It generated 99% of its total operating revenue via the goods transportation services while the remaining came from platform fees and other operating activities. It primarily serves micro, small, and medium enterprises (MSMEs) and has expanded its presence to over 20 cities in India. According to the sources, the company managed to cut costs and reported a profit after tax (PAT) of Rs 54 crore in FY25. During FY24, the Bengaluru-based firm cut down its losses by 45% to Rs 95.7 crore. Queries sent to Porter on Monday did not elicit a response until publication of the story. We will update the story in case it responds. Porter has raised over $332 million to date, including its $200 million Series F round in May this year, with Kedaara Capital and Wellington Management leading the investment. Prior to this, the company secured $100 million led by Tiger Global in 2021. Soon after the unicorn round, Porter also provided an exit to its early backer Peak XV, which generated returns of over Rs 1,200 crore on an investment of Rs 116 crore. Porter earlier operated with minimal competition from VC-funded players, but the landscape has shifted with Uber, Delhivery, and Rapido (in the two-wheeler category) entering the space.

Porter raises $200 Mn led by Kedaara and Wellington Management

EntrackrEntrackr · 3m ago
Porter raises $200 Mn led by Kedaara and Wellington Management
Medial

Porter, an on-demand goods transport agency, has raised $200 million in its Series F funding round, led by Kedaara Capital and Wellington Management. Existing investor Vitruvian Partners also participated in the round, which is a combination of primary investment and secondary share sales by select existing shareholders. As per several media reports, the company has been valued at $1.1-1.2 billion, making it the third unicorn of 2025. Netradyne and Juspay also achieved the feat in January and April respectively. However, Porter did not disclose its current valuation. The fresh round has come after a gap of three and a half years for the Bengaluru-based company. It raised $100 million Series E round led by Tiger Global and Vitruvian Partners in October 2021 at a valuation of around $500 million. Porter company provides a full-stack logistics platform to help businesses optimize their last-mile delivery operations. It primarily serves micro, small, and medium enterprises (MSMEs) and has expanded its presence to over 20 cities in India. For the fiscal year ending in March 2024, Porter’s revenue from operations grew 55.9% to Rs 2,733.8 crore. Despite rising expenses, the firm managed to cut down its losses by 45% to Rs 95.7 crore against Rs 174.6 crore in FY23. The Arch reported that Porter’s scale has jumped 55% to Rs 4,300 crore in FY25.

Peak XV Partners exits Porter with 11x return

EntrackrEntrackr · 3m ago
Peak XV Partners exits Porter with 11x return
Medial

Logistics company Porter has generated returns of over Rs 1,200 crore for Peak XV Partners, which recently exited its investment, according to a Mint report. According to the report, the exit marks an 11x return on Peak XV’s Rs 116 crore investment, made across multiple funding rounds over the past decade. The firm first invested in Porter during its Series A round in 2015. Last week, Porter announced that it had raised $200 million in a Series F round, which also included secondary share sales by select existing shareholders. In a response to Entrackr’s queries, a Peak XV spokesperson said, “Porter is a fantastic company and a clear category leader in local logistics. The company has grown tremendously since our Series A investment in 2015 and is now worth over a billion dollars. After a decade-long partnership with the team, we have exited our investment and express our heartfelt gratitude to the founding team — Uttam Digga, Pranav Goel, and Vikas Choudhary — for being wonderful partners.” However, the spokesperson declined to share specific details of the deal. Porter also did not provide a comment on the matter. According to startup data intelligence platform TheKredible, Peak XV held a 13.77% stake in Porter before the Series F round. Mahindra and Mahindra Limited was the largest external stakeholder, followed by Lightrock Growth Fund. Following its latest funding, Porter became the third unicorn of 2025, after Netradyne and Juspay, which reached unicorn status in January and April, respectively. For the fiscal year ending March 2024, Porter’s revenue from operations rose by 55.9% to Rs 2,733.8 crore. Despite increasing expenses, the company managed to reduce its losses by 45% to Rs 95.7 crore from Rs 174.6 crore in FY23. According to The Arc, Porter’s overall scale is projected to grow by 55% to Rs 4,300 crore in FY25. In addition to Porter, Peak XV has also partially or fully exited investments in companies such as Rebel Foods, Healthkart, Finova, K12 Techno, and Cloudnine Hospitals.

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