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Peak XV Partners exits Porter with 11x return

EntrackrEntrackr · 2m 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.

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

EntrackrEntrackr · 2d 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.

Shraeyansh Thakur resigns from Peak XV after a decade

EntrackrEntrackr · 4m ago
Shraeyansh Thakur resigns from Peak XV after a decade
Medial

Shraeyansh Thakur resigns from Peak XV after a decade During his tenure at Peak XV, he was board member and observer for startups like Atlys, Meesho, Cars24, ApnaMart, Unacademy, Zetwerk, Urban Piper, Bijnis, among others. Shraeyansh Thakur, an investor at Peak XV Partners, has resigned after nearly 10 years at the venture capital firm, sources told Entrackr. This marks the fifth high-profile exit from Peak XV in the past year. “Shraeyansh Thakur has decided to quit the firm and is likely to launch his own venture soon,” said one of the sources requesting anonymity. Queries sent to Peak XV and Thakur did not elicit any response until publication of the story. "After an incredible 9+ years at Peak XV / Sequoia India, I have decided to embark on a new entrepreneurial journey. The next 10 years are going to be India’s golden digital decade and our founders now have true belief to create the world’s best companies from India," said Thakur in a Linkedin post. Last month, Peak XV’s managing partners, Shailesh Lakhani and Abheek Anand, stepped down after serving for more than a decade. Prior to that, Anandamoy Roychowdhary, a partner at Peak XV's Surge, departed after over 11 years at the firm, while Piyush Gupta, then Managing Director, left after seven years to launch his secondary-focused fund, Kenro Capital. Meanwhile, Rishen Kapoor, co-founder and CEO of SaaS startup Toplyne, has returned to Peak XV Partners after his three-and-a-half-year-old venture shut down. In October last year, Peak XV reduced its $2.85 billion fund by 16% as part of a strategic shift towards investing in a more measured manner amid elevated valuations in the Indian market. This development came a year after Sequoia Capital rebranded as Peak XV.

Anandamoy Roychowdhary exits Peak XV after 11 years

EntrackrEntrackr · 7m ago
Anandamoy Roychowdhary exits Peak XV after 11 years
Medial

Anandamoy Roychowdhary, a partner at Peak XV's Surge, has left the firm after spending over 11 years at the firm. This marks the second senior-level exit from the venture capital within a year. Roychowdhary joined Peak XV Partners (formerly Sequoia Capital India) in February 2013 as Director of Technology and was promoted to Partner in Surge in June 2023. Before transitioning into investing, he served as a technology advisor to Peak XV’s portfolio companies, including Byju’s. “Petal wafts from the rose, drawn by dreams of mastery. Cedes post Nov 30th,” Roychowdhary shared on the social media platform X. Recently, Piyush Gupta, Peak XV’s former Managing Director, left the firm after seven years to launch his secondary-focused fund, Kenro Capital. Roychowdhary's next move remains unclear. Peak XV has not commented on the development. Last year, Sequoia Capital India was rebranded as Peak XV Partners. The firm continues to manage $9.2 billion across 13 funds and plans to further invest in India and the Southeast Asia region using its $2.5 billion of uninvested capital.

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