Skip to content Skip to Search
Skip navigation

Indian logistics startup Porter launches in Dubai

Porter
Porter's current plan is to explore the GCC region and the Indian subcontinent for expansion

Porter, India’s on-demand logistics company, has ventured into the UAE to offer intra-city logistics services in Dubai.

The expansion is part of the current plan to explore the GCC region and the Indian subcontinent.

The logistics startup is backed by venture capital investors including Tiger Global, Sequoia and Lightrock India and earlier raised $100 million in series E funding for expanding operations.

Porter plans to make an investment of $6 million in UAE for the next three years. Additionally, the company is looking to bolster operations in these cities and further increase their customer acquisition twice to over 40,000 and vehicle base by more than 800 by March 2024.

The startup currently has over 300  light commercial vehicles on the platform and recently introduced 15 two-wheelers to expand its operations in the region.

Pranav Goel, CEO and co-founder, said the company plans to invest $50 million into international expansion over the next five years.

Latest articles

Payments processed from international visitors rose 55%

Network International profit shrinks while revenue grows

High interest rates and currency devaluations dented profit at Middle East payments provider Network International last year, despite revenue rising by 13 percent. The company posted net profit of $67 million for 2023, a drop of 16 percent year on year. The primary impact on profit for the year came from increased financing costs as […]

Saudi Arabia's minister of human resources Ahmad bin Sulaiman Al-Rajhi. The sector is the latest to be targeted in the kingdom's Saudisation drive

Saudi Arabia steps up Saudisation job drive

Saudi Arabia’s government said this week that jobs in human resources (HR) in the kingdom are now restricted to Saudi nationals only. It is another step in the country’s plan to localise skilled jobs and reduce unemployment.  The ministry of human resources made the statement on social media site X, formerly Twitter, in response to […]

Drake & Scull's projects include Louvre Abu Dhabi. Its revenues grew AED13 million in 2023

Auditors raise concerns over Drake & Scull as losses mount

Auditors reviewing the finances of Drake & Scull International have issued a heavily qualified disclaimer in which they appear to distance themselves from the UAE construction contractor. A filing on Dubai Financial Market for Drake & Scull revealed revenues of AED94 million ($26 million) for the year to December 31 2023, up from AED81 million […]

Bahrain titanium

Bahrain enters $27bn titanium market

A $200 million manufacturing plant is planned in Bahrain to produce titanium products as part of the kingdom’s ambitions to expand its industrial sector. Edamah, the real estate arm of the sovereign wealth fund Mumtalakat, has signed a 25-year lease agreement with Bahrain Titanium, a subsidiary of the Swiss company Interlink Metals & Chemicals, for […]