Porter In Talks To Raise $100 Mn In Fresh Funding: Report
Hyperlocal logistics startup Porter is reportedly in discussions with private equity firm Wellington Management and others for a fresh funding round. A Mint report, citing sources familiar with the matter, said that the company is looking to raise $100 Mn (around INR 856.34 Cr) in a mix of primary and secondary sale. The new round is also expected to boost Porter’s valuation between $1.2- 1.4 Bn, a source told the publication. Inc42 has reached out to Porter and Wellington Management for comments on the development. The story will be updated based on the responses. Porter, founded in 2014 by Pranav Goel, Vikas Chaudhary, and Uttam Digga, claims to provide distance-based allocation, GPS tracking, proactive notifications, and more, to empower its driver partners. Since its inception, the startup has raised about $132 Mn total funding and counts Tiger Global, Peak XV, Lightrock and Kae Capital among its investors. Porter competes with brands such as Shadowfax, Dunzo, Swiggy Genie, Pidge, among others. (The story will be updated soon.) The post Porter In Talks To Raise $100 Mn In Fresh Funding: Report appeared first on Inc42 Media.
Hyperlocal logistics startup Porter is reportedly in discussions with private equity firm Wellington Management and others for a fresh funding round.
A Mint report, citing sources familiar with the matter, said that the company is looking to raise $100 Mn (around INR 856.34 Cr) in a mix of primary and secondary sale.
The new round is also expected to boost Porter’s valuation between $1.2- 1.4 Bn, a source told the publication.
Inc42 has reached out to Porter and Wellington Management for comments on the development. The story will be updated based on the responses.
Porter, founded in 2014 by Pranav Goel, Vikas Chaudhary, and Uttam Digga, claims to provide distance-based allocation, GPS tracking, proactive notifications, and more, to empower its driver partners.
Since its inception, the startup has raised about $132 Mn total funding and counts Tiger Global, Peak XV, Lightrock and Kae Capital among its investors.
Porter competes with brands such as Shadowfax, Dunzo, Swiggy Genie, Pidge, among others.
(The story will be updated soon.)
The post Porter In Talks To Raise $100 Mn In Fresh Funding: Report appeared first on Inc42 Media.
