Porter joins unicorn club with $200 million funding round; valuation hits $1.2 billion

On-demand logistics platform Porter has raised $200 million in a funding round led by private equity firms Kedaara Capital and Wellington Management. The financing, comprising both primary and secondary transactions, has propelled Porter to the unicorn club with a valuation between $1.1-$1.2 billion, according to people familiar with the matter.The round also saw the exit of early investors Peak XV Partners and Kae Capital.

Existing investor Vitruvian Partners also participated in the round. Of the total amount, around $140-150 million was in…