Porter

Revenue growth outpaced expenses, helping Porter deliver its first full-year profit.

Porter raises another $110 million in extended round at $1.2 billion valuation

The company will use the funds to double down on the two-wheeler local logistics service space as competition with Rapido, Uber and others heats up

Porter raises $200 million from Kedaara and Wellington Management; Peak XV Partners exits

The primary portion that Porter will get in its coffers is around $50-80 million, the rest $120-150 million will be the secondaries component, a source told Moneycontrol.

Swiggy shuts down hyperlocal delivery arm Genie

The revenues from Genie were not encouraging enough for the food delivery company to keep building the vertical. It would rather scale food delivery and gain market share in quick commerce, where the battle is only intensifying.

Bengaluru man fails to get Ola, Uber cab to work, uses Porter to deliver himself to office

The feat amused social media users and even the goods delivering company. 'Talk about a Bangalore Brainwave,' Porter wrote on X.

Logistics unicorn Porter saw revenue soar to Rs 2,734 crore, losses narrowed to Rs 96 crore in FY24

Since its last primary fundraise in 2021, Porter has completed at least two friends and family rounds which doubled its valuation from $500 million to $1 billion in a span of about three years without any institutional fundraise, Moneycontrol had exclusively reported earlier.

Porter quietly turns unicorn, closes internal round at $1 billion valuation

This is Porter's second friends and family round in a span of about a year. In the January-March quarter of 2023, the company sold shares worth Rs 7-8 crore to friends and family at a valuation of $700 million.

Bengaluru delivery agent's unusual work attire: Swiggy t-shirt, Zomato bag, Porter helmet

The delivery agent is donning Swiggy's iconic orange shirt while juggling a Zomato delivery bag and has a Porter helmet on.

Kae Capital makes final close of new fund at $50 million

The venture fund said it plans to make follow-on investments exclusively into companies of previous funds, as co-investors with growth-stage funds in Series B, C and D rounds.

Logistics start-up Porter violates rules, Karnataka transport department books drivers

Porter is operating without obtaining a goods carriage permit and is also displaying advertisements on their vehicles without proper permission: Transport department official.

Porter expects business to grow by 60% to Rs 3,000 cr, reach operational profit by Dec 2024

Porter at present provides instant delivery of up to 20 kg on two-wheelers, house shifting, mini trucks, three-wheelers etc for delivery of goods and it has recently forayed into courier service.

Porter announces leadership rejig; co-founder Uttam Digga named CEO

As part of the top-level revamp, Pranav Goel has transitioned to the role of Executive Vice Chairman and Shruti Ranjan Satpathy has got additional responsibility and will now take the role of Chief Product and Technology Officer.

Logistics startup Porter to offer insurance, vehicle loans to drivers through partnerships

Earnings data generated by the firm to help NBFCs and insurtechs underwrite loans. The company is looking to get into the used vehicle facilitation market to offer finance options for trucks and LCVs, co-founder and CEO Pranav Goel, has said

Ola, Uber, Dunzo, PharmEasy, Amazon Flex score 0/10 in providing fair conditions for gig workers: Report

The report rated 12 platforms on fair pay, fair conditions, fair contracts, fair management, and fair representation.

Logistics firm COGOS to acquire Porter's FMCG biz

The move is aimed at ensuring continuity of Porter’s business vertical with COGOS’ business model and strengthening the focus on the core business solutions, Porter said.