Porter raises Rs 50 Cr from Mahindra Group in series C round of funding
April 5, 2018: In what appears to be a Series C round of funding, Porter has raised Rs 50 crore from Mahindra Group. With this, the B2B logistics mark
Founded by (L to R) Uttam Digga, Pranav Goel, and Vikas Choudhary, Porter has disrupted various domains of logistics by launching an on-demand marketplace for trucks, bikes, and packers & movers in India
April 5, 2018: In what appears to be a Series C round of funding, Porter has raised Rs 50 crore from Mahindra Group. With this, the B2B logistics marketplace has accumulated about Rs 135 crore from investors such as Sequoia, Kae Capital, Anupam Mittal and Sandeep Tandon.
Earlier in December 2016, the company raised an undisclosed sum in Series B round while its Rs 35 crore Series A round was led by Sequoia and Kae Capital. The company which claims to save 20-25 percent on logistics expense for its clients, was founded by IIT alumni, Pranav, Uttam Digga and Vikas Choudhary.
Two months ago, Porter had also inked an agreement to merge with Mahindra Group’s owned logistics marketplace SmartShift. The aforementioned funding amount seems to be a part of the deal.
Porter is likely to be renamed Mahindra SmartShift, post this round.
