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Porter raises $200 Mn led by Kedaara and Wellington Management

EntrackrEntrackr · 7m 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.

Tiger Global plans $2.2 Bn venture fund

EntrackrEntrackr · 18d ago
Tiger Global plans $2.2 Bn venture fund
Medial

Tiger Global plans $2.2 Bn venture fund Tiger Global Management is planning to raise a smaller venture capital fund as it shifts back to its earlier investing approach. According to a Bloomberg report, the New York based investment firm is looking to raise about $2.2 billion for its new fund, a sharp reduction from the much larger vehicles it raised during the market boom. The new fund, internally referred to as PIP 17, will be similar in size and structure to Tiger Global’s earlier funds. This marks a departure from the firm’s previous two venture funds, which raised $6.7 billion and $12.7 billion respectively. In 2023, a Financial Times report said that Tiger Global Management had raised $2.7 billion for a new fund, citing filings with the US Securities and Exchange Commission. However, no further updates were disclosed after that. According to the Bloomberg report, Tiger Global said in a letter to investors that the upcoming fund will focus on a more selective investment strategy and a slower deployment pace. In 2025 so far, the firm has made nine new investments after reviewing hundreds of potential opportunities. Founder Chase Coleman and other Tiger Global insiders are expected to be the largest investors in the fund, which is scheduled to hold its first close on March 18, according to the report. The firm added that its strongest historical performance came from a smaller scale and more disciplined investment approach. In India, Tiger Global has backed only four companies namely Infra.Market, Captain Fresh, Infinite Uptime, and EatClub. Notably, all these were follow-on investments where the firm was already an existing backer. Even in 2024, Tiger Global made just two investments in Wiz Freight and Jupiter’s NBFC arm, both of which were also as an existing investor. According to Fintrackr data, Tiger Global backed over 50% of the startups that attained unicorn status in 2021. In 2022, its portfolio companies including DealShare, Oxyzo, Games24x7, Polygon, and Open also entered the unicorn ranks.

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

EntrackrEntrackr · 5m 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.

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