Advertisement
Wednesday, Nov 30, 2022
Outlook.com
Outlook.com

Porter Raises Rs 750 Crore In Series E Funding From Tiger Global, Vitruvian Partners

In a press statement on Monday, the company said that it would leverage the proceeds to consolidate its position by acquiring further talent and expand into the top thirty-five Indian cities by 2023.

Porter Raises Rs 750 Crore In Series E Funding From Tiger Global, Vitruvian Partners
Image Courtesy: Porter Blog
Porter Raises Rs 750 Crore In Series E Funding From Tiger Global, Vitruvian Partners
outlookindia.com
2021-10-25T14:40:43+05:30

Intra-city logistics mover Porter said it has raised Rs 750 crore in its Series E funding round which was led by institutional investor Tiger Global Management and Vitruvian Partners, with participation from existing investors Sequoia Capital India and Lightrock India.

Partner at Tiger Global, Griffin Schroeder said, “In a challenging market, Porter has developed excellent repeat driver and customer cohorts, demonstrating the platform's unique value."

In a press statement on Monday, the company said that it would leverage the proceeds to consolidate its position by acquiring further talent and expand into the top thirty-five Indian cities by 2023. At present, the company offers intra-city logistics movement services in thirteen cities including Mumbai, Delhi NCR, Pune, Bengaluru, Hyderabad, Kolkata, Chennai, among others. This alongside, offering intra-city transportation services for enterprises. Their customers include Abbott and Johnson&Johnson. 

Its website claims that it has more than 1.5 lakh driver partners enrolled since it was founded in 2014 by Pranav Goel, Uttam Digga and Vikas Choudhary. 

“In a challenging market, Porter has developed excellent repeat driver and customer cohorts, demonstrating the platform's unique value,” said Partner, Tiger Global, Griffin Schroeder.

(With inputs from PTI)

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement