Porter Secures Unicorn Status After $200 Mn Funding

• Porter has become the second unicorn of 2025, joining Netradyne, after closing a $200 Mn Series F funding round led by Kedaara Capital and Wellington Management.
• The funding round included both primary and secondary deals, with primary transactions raising $50 Mn to $80 Mn and secondary deals accounting for $120 Mn to $150 Mn.
• The startup's valuation now stands between $1.1 Bn and $1.2 Bn, marking a significant milestone since its last Series E funding in October 2021.
• Porter plans to utilize the new capital to expand its operations to more cities, support MSMEs, and enhance opportunities for over 1 Mn gig workers.
• Despite posting a net loss of INR 95.7 Cr in FY24, Porter saw a 56% increase in operating revenue, reflecting strong growth and reduced cash burn compared to the previous fiscal year.

Source: Inc42