Porter looks to raise $100 million from private equity firms
1 month, 3 weeks ago

Porter looks to raise $100 million from private equity firms

Live Mint  

Private equity companies are looking to invest $100 million in new-age intra-city logistics services provider Porter, in a deal that will value the decade-old startup at $1.1-$1.2 billion, two people with knowledge of the development said. The Benagaluru-based company has got terms sheets from investors including Kedaara Capital, Multiples and Peak XV, the first person cited earlier said, adding that Porter has been able to bring down its burn rate while growing its revenues, and is therefore demanding a premium to its last round valuations. Earlier this year, Porter entered the unicorn club after completing an internal round, where individuals bought shares from the employee stock ownership plan pool at a valuation of $1 billion, Mint reported last month. Porter is looking to double its domestic geographical presence in the next 3-4 years, even as it seeks to expand its international operations beyond Dubai, a market it entered last year, the founder told Mint in an interview last month.

India Logistics Mint Porter Peak Xv Digga  investors  looks  porter  million  round  billion  looking  raise  logistics  equity  private  revenue  firms  cities  company  100

History of this topic

Porter Eyes More Small Cities for Growth: A Focus on Tier-2 Markets
2 months, 2 weeks ago

Porter Eyes More Small Cities for Growth: A Focus on Tier-2 Markets

Live Mint  

Porter, a logistics startup, is looking to double its domestic geographical presence in the next 3-4 years, with a focus on smaller cities. The company is currently present in about 22 cities, including 7-8 metro cities, and plans to expand to nearly 40 cities in the coming years. Porter is also exploring expansion into international markets, with initial efforts in …

Discover Related