Porter secured Rs 140 crore in Series D funding round

Porter, which is an On-demand logistics marketplace, has now secured INR 140 crore from the Lightstone Global Fund.

The funding comes at a time when players need to support the increasing need for logistics at the time of the Coronavirus Outbreak lockdown.

According to the report revealed, Porter has secured INR 139.7 crore in the funding round of Series D funding round. The filing also revealed 548190 shares were allotted to the venture capital firm by Porter as a part of the deal. The price per share stood at around INR 2540.21, with a nominal value of INR 100.

As of now, the startup is present across the six cities, including the Bangalore, Chennai, Ahmedabad, Delhi NCR, Mumbai, and Hyderabad. The technology-enabled company allows users to track the rides in real-time by sharing access to truck location and driver contact as well.