Porter
Unicorn · $1.2BBengaluru, IN · 9 known investors
Advised on its Series F fundraise co-led by Kedaara Capital and Wellington Management.
Also known as Resfeber Labs Pvt. Ltd. · SmartShift Logistics Solutions Private Limited · SmartShift Logistics Solutions Pvt. Ltd.
Founders & leadership
Investors · 9
Also in the syndicate · 6
Funding
SEC filings, press & company announcements- Undisclosed amountSeries FMay 2025 · 2 sources
Kedaara Capital (lead), Wellington Management (lead), Vitruvian Partners
Source ↗ - Undisclosed amountSeedJan 2023Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Porter, the trading name of SmartShift Logistics Solutions Pvt. Ltd., is a Bengaluru-headquartered Indian logistics company founded in 2014 that connects individuals and businesses needing goods transported with drivers of commercial vehicles. The platform offers on-demand intra-city transport using mini trucks, tempos, three-wheelers, electric vehicles and two-wheelers, alongside Porter Enterprise for bulk transportation, distribution and supply chain management, Porter Packers & Movers for household relocation, and an intercity courier service delivering by surface or air to more than 19,000 pin codes.
The company operates an aggregator marketplace rather than owning vehicles outright, with bookings placed through its mobile apps. Published starting prices in the Android listing are ₹40 for two-wheelers, ₹160 for three-wheelers, ₹210 for a Tata Ace, ₹300 for an 8-ft pickup truck and ₹625 for a TATA 407 truck, with fares varying by estimated distance, vehicle type and requirements. Porter reached unicorn valuation in 2025 following a $200 million Series F round, and reported its first profit in FY25.
Leadership was reshuffled with co-founder Uttam Digga becoming Chief Executive Officer and Pranav Goel moving to Executive Vice Chairman, while Shruti Ranjan Satpathy was appointed Chief Product and Technology Officer.
Founding story
Porter was founded in 2014 by Pranav Goel, Uttam Digga and Vikas Choudhary. The founders, drawn from IIT Kharagpur (Goel and Digga) and IIT Kanpur (Choudhary, later Stanford Graduate School of Business), were influenced by the "Uber for X" model and studied how technology platforms matched supply and demand. Examining the logistics market in Mumbai, they identified a gap in last-mile delivery and built an app to simplify truck booking in India, establishing the business in Bengaluru.
Business model
Porter runs a marketplace that aggregates commercial vehicle owner-drivers and matches them with customers booking point-to-point goods movement through its app. It serves both consumer/B2C demand and business customers, including MSMEs and enterprise accounts, and layers additional services — packers and movers, intercity courier, enterprise logistics — on the same driver-partner network.
Porter operates a revenue-sharing model, retaining up to 30% of the billed amount depending on location, with the balance paid to driver partners. Pricing to customers is quoted upfront based on estimated distance, vehicle type and service requirements.
Traction
Porter reports having served over 1.5 crore customers with more than 7.5 lakh driver partners, and elsewhere claims more than 30 lakh customers including 20 lakh SMEs. Its Android app has surpassed 50 million downloads, and its iOS app holds a 4.9 average from 361,000 ratings. FY25 operating income reached INR 4,306.2 crore with a net consolidated profit of INR 55.2 crore, reversing an INR 95.7 crore loss in FY24; EBITDA margin improved to 1.94% from -2.93%.
Latest developments
Following the May 2025 Series F, Porter was reported to be in advanced stages of raising an additional $100-110 million in an extended Series F at the same $1.1-1.2 billion valuation, with roughly $250 million of the enlarged round via secondary transactions and $50 million as fresh capital; early backer Peak XV Partners fully exited with a payout of close to INR 1,200 crore on an investment of about INR 116 crore. The company turned profitable in FY25, announced layoffs of around 300-350 employees in November 2025 ahead of a planned listing, and its founders Pranav Goel and Uttam Digga received the EY Entrepreneur Of The Year 2025 award in the start-up category. Porter has stated goals of expanding its SME base past 1 crore by 2030, growing driver partners to 12 lakh, and adding more electric vehicles to its network.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Porter is described as India's largest intra-city logistics marketplace and one of the country's leading truck-booking platforms, having reached unicorn status in 2025. Its operating income grew tenfold between FY20 and FY24, from INR 274 crore to INR 2,733.7 crore, and rose a further 58% to INR 4,306.2 crore in FY25, when the company turned profitable.
Porter positions on breadth of vehicle types (two-wheelers, three-wheelers, mini trucks, tempos, EVs, pickups and canters), upfront transparent pricing, coverage that extends beyond city limits, and a stack of adjacent services — enterprise logistics, packers and movers and intercity courier to 19,000+ pin codes — built on a single aggregation platform.
Technology
The service is delivered through consumer mobile applications on Android and iOS that handle vehicle selection, instant price estimation, pickup and drop-off entry, multiple stops, booking and order tracking. The underlying platform matches customer demand with the driver-partner supply pool across vehicle categories from two-wheelers to 14-ft canters.
Go-to-market
Porter acquires customers directly through its apps, with over 50 million downloads reported on Google Play and a 4.9 rating across 361,000 iOS ratings. Growth has come from expanding city coverage and adding adjacent service lines (enterprise, packers and movers, intercity courier) sold to the existing user base, supported by a driver-partner network of more than 7.5 lakh drivers.
Individuals and households needing goods moved or relocation services, MSMEs and small businesses, and larger enterprise customers requiring bulk transportation, distribution and supply chain support. The company has cited eCommerce merchants, restaurants, supermarkets and kirana shops among its business users, and reports serving more than 20 lakh SMEs.
Geography
Headquartered in Bengaluru, Karnataka. Coverage figures vary by source and date: app listings cite 21-22 Indian cities including Mumbai, Delhi-NCR, Bangalore, Hyderabad, Chennai, Ahmedabad, Pune, Surat, Jaipur and Kolkata; a 2025 report cites 23 cities; and Wikipedia states 35 cities across India as of 2026, plus international operations in the United Arab Emirates and Turkey.
History
The company began as an intra-city goods transport platform in 2014 and progressively added service categories and cities. It received an initial seed investment of roughly $500,000 (INR 3 crore) from Kae Capital in April 2015, followed the next month by INR 35 crore (about $5.5 million) in Series A funding from Sequoia Capital and Kae Capital together with angel investors including Rajeev Chitrabhanu, Anupam Mittal and Sandeep Tandon. Mahindra Group invested INR 65 crore in 2018. A Series E round was recorded in October 2021. Porter launched a pan-India intercity courier service in 2023 and announced an INR 50 crore investment to expand in the UAE the same year. It entered the unicorn club in May 2025 with a $200 million Series F round, then extended that round with an additional raise at the same valuation. In November 2025 the company announced layoffs affecting an estimated 300-350 employees, describing the move as a one-time restructuring to rationalise costs ahead of a planned public listing.
Risks & controversies
In November 2025 Porter announced layoffs, later reported to affect 300-350 employees, framed as a one-time restructuring to rationalise costs ahead of a planned public listing. In February 2026 the company's delivery executives joined drivers from Uber, Rapido and Ola in a nationwide six-hour strike beginning 7 February 2026, dubbed an "All India Breakdown," with demands including a government-notified base fare and a ban on private vehicles used for commercial rides. App store reviews include customer complaints about the quality and coordination of the packers and movers service.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Competitors · 2
by search overlap
Companies competing with Porter for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 10
launches, deals, and filingsPorter's delivery executives, along with Uber, Rapido and Ola drivers, went offline for six hours in a nationwide strike demanding a government-notified base fare and a ban on private vehicles used for commercial rides.
Porter announced layoffs to rationalise costs ahead of a planned public listing; reports put the number affected at 300-350 employees.
Porter raised $200 million led by Kedaara Capital and Wellington Management with participation from existing investor Vitruvian Partners, becoming a unicorn.
$200M source ↗
Press reports indicated Porter was in advanced stages of raising an additional $100-110 million to take the Series F to $300-310 million at the same $1.1-1.2 billion valuation, with about $250 million via secondary transactions and $50 million in fresh capital.
$100M source ↗
Porter reshuffled its leadership: co-founder Uttam Digga was appointed Chief Executive Officer, Pranav Goel became Executive Vice Chairman, and Shruti Ranjan Satpathy joined as Chief Product and Technology Officer.
Early backer Peak XV Partners exited with a payout close to INR 1,200 crore on a total investment of around INR 116 crore as part of secondaries in the Series F round.
The Mahindra Group invested Rs 65 crore into Porter.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Town of Porter: Homein.gov · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Porter do?
- Porter is an Indian on-demand intra-city and inter-city goods logistics marketplace operating on an aggregator model.
- Who founded Porter?
- Porter was founded by Pranav Goel, Uttam Digga, Vikas Choudhary.
- Who are Porter's investors?
- Porter's investors include Elev8 Venture Partners, IndigoEdge, Kae Capital.
- Where is Porter headquartered?
- Porter is headquartered in Bengaluru, IN.