Tiger Global-backed logistics startup Porter saw its revenue surge 56% to ₹2,734 crore in FY24, up from ₹1,754 crore in FY23, driven by strong demand.
Despite the growth, Porter managed to reduce its net loss by 45%, narrowing it from ₹175 crore in FY23 to ₹96 crore in FY24. The company doubled its valuation from $500 million to $1 billion over three years through two friends and family funding rounds without institutional fundraising. Porter's financial strength helped it join the unicorn club.