Porter raises 140 crores from Lightstone: Law Firms Verist, Algo Legal assist

Bar & Bench

On-demand logistics marketplace Porter has raised USD 18.3 Million (Approximately Rs. 140 crore) from Lightstone Global Fund.

Porter has an “Uber for trucks” model as app-based on-demand logistics marketplace providing commercial vehicles.

Verist Law acted for Porter and the team was led by Partner Srishti Ojha along with Suswagata Roy.

Sequoia Capital was an early investor in Porter. Algo Legal acted for Sequoia and the team included Ashwat Malhotra, Khamir Kamdar and Siddharth Manchanda.

According to YourStory, Porter has raised Rs 139.7 crore in its Series D funding round. The filings reveal that 5,48,190 shares were allotted to the venture capital firm by Porter as a part of the deal. The price per share stood at Rs 2,540.21 with a nominal value of Rs 100.

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