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Businesses are there to serve customers. Now, businesses are giving more intense service to consumers. Home deliveries have a lot of prominences ever before.
Ultimately, logistics plays a vital role to create successful businesses. There is more responsible for the logistics supply chain to reach the products in time. So, more businesses are striving to get a robust logistic supply chain.
Here, small enterprises are struggling to coordinate with logistics. As they will be making partners with nearby logistics partners. Most of the time they will be unavailable and won’t respond.
Hence, vendors are the ultimate losers in the businesses. Businesses like furniture, home appliances, e-commerce, hardware shops, and others require logistics services frequently.
But these businesses won’t find the right logistics partner. Even though businesses find one but it won’t be reliable and affordable. Otherwise, they won’t get their own mini trucks, tempo travelers.
So, there is a market gap between the supply chain and consumers. However, after the launch of Porter, all the logistics business problems got one stop solution.
In this blog, you will get an in-depth analysis of Porter Startup story. And how they build a successful business model.
Porter Startup
Porter is an Indian startup based out of Mumbai. The startup provides logistics solutions to the vendors, e-commerce.FMCG, Traders, and Cargo companies.
This startup made logistics services affordable. Even it integrates technology with the logistics service. So, vendors can easily track the trucks at any time.
Porter startup was launched in August 2014. To solve the inefficient and fragmented logistics services. This startup made businesses lucrative by providing seamless logistics services.
Pranav Goel, Uttam Digga, and Vikas Choudhary are the founders of Porter. These founders are passionate to build consumer-centric startups. Porter startups are changing the intra-logistics industry.
Porter startup has gotten more traction from the consumer’s end. Even the startup provides valuable services to its clients. So, Porter is backed by Tiger Global Management and Sequoia Capital India.
Logistics is vital for both vendors and consumers. Here Porter is getting traction from both ends. As people need transportation services while shifting to a new house or renovating.
Till now, Porter had completer 16+ million trips and has more than 2 lakh drivers. Even the startup has a wider presence across Indian cities.
As of now, Porter is present across 14 Indian cities like Bengaluru, Delhi, Chennai, Jaipur, Hyderabad, Kolkata, Pune, Nagpur, Ahmedabad, Indore, and many others.
Porter startup has more than 300 passionate employees who are striving for the company’s success. This startup story drives many entrepreneurs to build a successful startups.
Porter Startup Story
Startups are known for their problem-solving ability. It is always consider existing problem seriously and try to tackle it. So, startups are always boon for society.
Always startups are driven by the passion of the founders. Startup founders have a clear vision and mission to bring change to society.
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Here, Porter founders Pranav Goel, Uttam Digga, and Vikas Choudhary are driven by passion. These founders are passionate about building new things. Always trying to explore new ways to build businesses.
Even they try to get into newer verticals to start businesses. But always they followed one golden rule that is market research.
Market research is an important state where every startup has to navigate. Without proper market research, one cannot find the consumer pain points precisely.
If the startup does not the consumer’s problems then how it can find the solution for it. So, it is essential to do high intense market research.
Even Porter’s founder also did market research before starting the business. Initially, Pranav Goel got to know about the broken and inefficient logistics services in the supply chain.
Even they knew that problem was from the supply chain. Then further noticed that logistics services are essential factors for many businesses. Some businesses are entirely dependent on logistics.
So, here they came to know the hard reality of intralogistics services. Here the losers are the business owners. Here the products are ready but the only problem is transportation.
Many businesses are fed up with the local logistics services. But most of the time they won’t deliver the item on time. Even their chances of mismanagement and miscommunication as well.
Further, business owners are liable to pay some high money for the transportation. Even people are also getting fed up often.
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Foundation for Porter Startup Story
So, there is a huge gap between the demand and supply end. To tackle the problem, Porter startup was started in 2014. Even Pranav Goel, Uttam Digga, and Vikas Chaudhary are inspired by the Uber business model.
Here porter provides logistics services to small to medium enterprises. Integration with technology is the ultimate game-changer for the company.
Even, Porter will also provide services to consumers. Here people can book trucks of the required range.
Then they can consumers are charged based on the distance. It is like OLA or uber business where the people are charged with according to the destinations.
Even Porter startup provides services in two-wheelers to carry small packages as well. So, this startup is trying to explore the pick and drop service as well.
In this way, Porter startup story is empowering many small to medium businesses with logistics services.
Porter Business model
Porter business mainly earns from the commission. As logistics services are in high demand. Due to prominence for online delivery, many companies are making a robust supply chain.
Here, Porter works under the marketplace model. Where any trucks driver can partner with Porter. Then truck drivers get the trips accordingly. So, drivers have to pay some percentage of commission for each trip.
However, Drivers earn over 30% more and even people can save up to 20% from booking Porter trucks.
Porter Fundings
Porter startup was successful in raising 750 crores in its series E. The leading investors were Tiger Global Management and Vitruvian Partners.
Existing investors are Sequoia Capital India and Lightrock India made an investment in the fundings.
The investment will be utilizing for the further expansion of the Porter services. Even the Poter is trying to enter newer cities and aiming to 35 cities more by 2023.
Ultimately, Porter is revolutionizing logistics services to small-scale enterprises. Here Porter founders are the main pillar for the success of the company.
For market research and understanding the problem, Porter startup story is the perfect example.