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Porter raises $200 Mn led by Kedaara and Wellington Management

EntrackrEntrackr ยท 2m 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, Porterโ€™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 Porterโ€™s scale has jumped 55% to Rs 4,300 crore in FY25.

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

EntrackrEntrackr ยท 21d 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.

ProcureYard raises $1.72 Mn in seed round

EntrackrEntrackr ยท 6m ago
ProcureYard raises $1.72 Mn in seed round
Medial

ProcureYard, a B2B commerce platform for raw materials, has raised a seed round of $1.72 million led by Powerhouse Ventures. The round also saw participation from Java Capital, 2am VC, and well-known angels Abhishek Goyal, Co-founder of Tracxn, and Rajesh Sawhney, Founder of GSF. The proceeds will be used for product development and working capital management. ProcureYard plans to use its custom-built conversational AI platform in metals and replicate it to other raw materials. The company aims to increase its market presence with its supply chain solutions. Founded in 2023 by Anshu Kandhari, Pankaj Bisht, Somdutt Parashar, and Tushar Agarwal, ProcureYard offers a suite of solutions, including procurement and sale of construction raw materials, excess inventory liquidation, customization services, logistics management, financing options, and vertical AI solutions for supply chain optimization and customer relationship management. Operating across 20 states, ProcureYard claims to have built a network of over 200 suppliers serving more than 200 SMEs in India. The company also claims to have reached an important milestone of Rs 300 crore in ARR (annualized revenue run rate) and has turned profitable while growing 6X. The company aims to touch an ARR of Rs 3,000 crore in the next 12โ€“18 months. The firm has also launched a multi-lingual voice agent that understands customer inquiries and matches them with the right set of suppliers.

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