The story of Porter began in 2013 with three IIT Graduates, Pranav Goel, Uttam Digga, and Vikas Choudhary, who decided to establish a start-up in intra-city logistics.
Pranav Goel spent the first ten years in Delhi, then shifted to Gujarat, which broadened his cultural viewpoint. As expected of a bright young student, Pranav made his way to Kota and joined IIT Kharagpur. This move did not excite him at first, but he quickly realized the importance of value substance over show.
After graduating, Pranav joined Cognizant, where he worked for six months. He then moved to JP Morgan, but these jobs did not feel right. Being from a business family, Pranav wanted to start something of his own.
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Pranav and his friends and co-founders Uttam Digga and Vikas Chaudary decided to bet on Uttam’s idea for Porter. He observed that many LCVs were not being used to their full potential, and the need to fix this demand and supply problem gave rise to Porter.
Porter is one of the companies in India’s $12 billion intra-city logistics market. It is a platform that connects companies and local truckers to provide last-mile delivery solutions.
The advantage of Porter is that there is no working capital exposure for any partner, and the drivers receive immediate payment. Each driver is given a digital wallet that receives the payment immediately after the job is done after deducting Porter’s commission.
Porter is the sole major player in the LCV on-demand segment as it is sector agnostic which means that there is no limit to what Porter can move. Even local logistics companies depend on Porter for their first and last-mile needs.
Porter removes uncertainty in demand for the various stakeholders by weaving the segment together digitally. This not only removes long waiting periods and is also giving the drivers return hauls more than before. This helps the customers save money on the logistics and enables the drivers to earn more.
Pranav Goel and his partners realized that better connectedness had created an efficiency surplus that allowed everyone to get better service and earnings, and the system became more robust naturally. Interestingly, the first couple of drivers onboarded with Porter are large fleet owners today and are still with the platform. Also, Porter boasts a registered partner base upwards of four lakhs across all major vehicle categories.
Pranav, Uttam, and Vikas are working hard toward making Porter an even more significant market influencer than it is already! In recent times, Porter has brought around 1000 EVs in the three-wheeler category into its fold, and this segment brings in 5% of its revenue. Pranav aims to take this up to 20% in the next two years. Porter now has a presence in over 13 cities across India with more than 5 million customers and 200000 owner-drivers on board.