Home / Companies / Logistics start-up The Porter raises Rs35 crore

Bengaluru: Online on-demand logistics marketplace start-up The Porter has raised 35 crore in an early-stage funding from venture capital firms Seqouia and Kae Capital, and other investors.

Through The Porter, which currently has 300 vehicles handling 10,000 transactions a month in Mumbai and NCR, businesses and consumers can hire light trucks and tempos according to their needs.

The firm plans to use the investment to expand to six cities by next year, and for recruitment.

“According to industry estimates, the Indian logistics market is pegged at $150 billion and last-mile connectivity constitutes 25% of that. While most of this is unorganized, we have begun to witness technology-aided disruption in the market. At Porter, our aim is to offer effective and efficient logistics solutions to our customers, and to add value to the operators who work with us," said Uttam Digga, co-founder and COO of The Porter, in a statement.

The Porter uses technology to drive higher utilization of trucks and offers its services at a price that is lower by around 20% than the market price. It also provides tools to businesses that allow them to monitor the vehicles they use in real time.

Funding for on-demand logistics platforms has picked up, with other companies such as Moovo and Bengaluru-based theKarrier having raised seed funding recently.

Angel investors—FreeCharge co-founder Sandeep Tandon, People group founder Anupam Mittal and JM Financial Services CEO Rajeev Chitrabhanu—have signed up to advise The Porter.

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