The logistics startup “Porter” was launched by three IIT graduates and friends named Pranav Goel , Uttam Digga , and Vikas Choudhary in 2016. Now Porter is everyone’s favorite in metro cities.
The three friends, who had over two decades of experience in the logistics industry, saw an opportunity to make truck booking more accessible and efficient in India. Hence, they created an app that would enable people to book trucks quickly. Porter soon gained popularity and became India’s top truck-booking app.
The app offers discounts and loyalty programmes to make the business more attractive to customers. The most attractive point is that the startup can help businesses save money on transportation costs, fuel, and other maintenance. That has been their USP.
Porter App is a fantastic illustration of how technology can change an industry’s aspect. The software has made it simpler and more economical for companies to transport goods because of its discounts and straightforward booking system.
The technologically advanced organisation enables users to track the rides in real-time by giving consumers access to truck location and driver contact information.
Businesses can reserve light trucks on demand through Porter, a light truck aggregator, to fulfil their intra-city logistics requirements. The startup works with e-commerce, FMCG, SMEs, traders, 3PLs, couriers, and freight firms. In 2018, SmartShift, a logistics marketplace owned by the Mahindra Group, merged with Porter.
In October 2021, the IIT friends’ startup raised Rs.750 Crore in Series E funding led by Tiger Global Management and Vitruvian Partners, with existing investors Sequoia Capital India and Lightrock India.
Porter said the latest funding round valued the startup at ₹3,750 crores in response to Mint’sMint’s queries. The startup is currently operational in Mumbai, Delhi NCR, Bengaluru, Hyderabad, Chennai, and Ahmedabad.
Porter’s portfolio includes companies like Godrej, Reliance, ITC, Urban Ladder, Delhivery, and Aramex. The tech-based logistics startup recently announced a $5 million ESOP liquidation programme for its eligible current and former employees.
