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Online on-demand logistics start-up The Porter raises Rs 35 Cr from Seqouia, Kae Capital

The Porter, a
logistics start-up, has raised Rs.35 crore in an early-stage funding from
venture capital firms Seqouia and Kae Capital, and other investors
. The firm
plans to use the
investment to expand to six cities by next year, and for recruitment.

The Porter, a
logistics start-up, has raised Rs.35 crore in an early-stage funding from
venture capital firms Seqouia and Kae Capital, and other investors
. The firm
plans to use the
investment to expand to six cities by next year, and for recruitment.

According to a
Live Mint
report, 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.

“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,” Uttam Digga, co-founder and COO of
The Porter, told Live Mint.

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.

According to the
report, 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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