Kedaara Gets CCI Nod To Invest In Porter

SUMMARY

Kedaara Sapphire Holding and Kedaara Capital Fund IV AIF, both investment arms of Kedaara, will jointly acquire a stake in the company

This regulatory nod follows Porter’s successful closure of a $200 Mn Series F funding round in May 2025, which was co-led by Kedaara Capital and Wellington Management

The funding valued Porter at approximately $1.2 Bn, making it the third Indian logistics unicorn in 2025, after Netradyne and Juspay which operate Namma Yatri

The Competition Commission of India (CCI) has approved Kedaara Capital’s plan to invest in hyperlocal logistics startup Porter.

Kedaara Sapphire Holding and Kedaara Capital Fund IV AIF, both investment arms of Kedaara, will jointly acquire a stake in the company.

Porter offers logistics services across India, mainly focusing on intra-city transport and last-mile delivery.

The CCI said a detailed order will be issued later.

This move comes as Kedaara continues to back growth-stage companies in India’s logistics and tech sectors.

This regulatory nod follows Porter’s successful closure of a $200 Mn Series F funding round in May 2025, which was co-led by Kedaara Capital and Wellington Management, with continued investment from Vitruvian Partners. The round included both primary capital infusion and secondary share purchases from existing investors.

At the time, the funding valued Porter at approximately $1.2 Bn, making it the third Indian logistics unicorn in 2025, after Netradyne and Juspay which operate Namma Yatri.

Now, Porter plans to use the new capital to expand operations across more cities, invest in technology, grow its workforce, and further its goal of building a sustainable, tech-driven logistics network.

Notably, Porter, founded in 2014 by Pranav Goel, Vikas Chaudhary, and Uttam Digga, offers features like distance-based allocation, GPS tracking, proactive notifications, and more, aimed at empowering its driver partners.

Since its founding, the startup has secured about $132 Mn in total funding, with backing from prominent investors including Tiger Global, Peak XV, Lightrock, and Kae Capital.

The startup competes with the likes of Shadowfax, Delhivery, Rapido, Uber, Pidge among others in the hyperlocal and intra-city delivery space.

On the financial side, Porter managed to narrow its net loss by 45% in the financial year ended March 31, 2024 to INR 95.7 Cr from INR 174.6 Cr in the previous fiscal year. Its operating revenue zoomed 56% to INR 2,733.7 Cr in FY24 from INR 1,737.4 Cr, a year ago.