# Mahindra SmartShift

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mahindra-smartshift

- Industry: Internet
- Headquarters: Bangalore, India
- Website: www.porter.in
- Total disclosed funding: $142M
- Latest round: Series E (Nov 11, 2021)
- Investors on record: 12

## About

Based in Bangalore, India, and founded in 2014 by Pranav Goel, Uttam Digga, and Vikas Choudhary, SmartShift Logistics Solutions Pvt. Ltd, a.k.a. Mahindra SmartShift, d.b.a. Porter, is an online logistics marketplace that allows users to book different types of vehicles for intra-city pickups and deliveries. In October 2018, Mahindra-owned logistics marketplace SmartShift merged with startup Porter. Mahindra SmartShift was formed from the merger of SmartShift and The Porter. In October 2021, Mahindra SmartShift raised INR 7.5 billion in a Series E funding co-led by Vitruvian Partners, Tiger Global Management, with participation from Sequoia Capital and Tiger Global Management. The series E funding values Mahindra SmartShift at INR 37.5 billion post-money.

SmartShift Logistics provides a platform to address inefficiencies in the last mile logistics sector and transform the way goods are transported around cities, enabling lakhs of businesses to move anything on-demand. The company provides its services, such as city tempo, packers and movers, and Porter for the enterprise. It also provides packers and movers services for house shifting on its platform. In addition, SmartShift Logistics provides a mobile application for customers to book on-demand logistics services to ship goods within their city.

The company generates revenue by charging customers for hiring a porter truck and porter bike based on the number of kilometers traveled, and type of vehicle.

SmartShift Logistics plans to use its proceeds from a Series E funding to consolidate its position, focus on acquiring talent, and expand operations in 35 cities of India by 2023.

## Funding rounds

- Series E, Nov 11, 2021, $101M — Hong Shan, Vitruvian Partners, Tiger Global Management, Lightrock, India Internet Fund
- Series D, Apr 10, 2020, $18M — Lightstone Ventures
- Series C, Aug 6, 2019, $9.7M — Hong Shan, Kae Capital, The Mahindra group
- Series B, Dec 13, 2016, $4.6M — Hong Shan, Kae Capital, Equentia Natural Resources, The Mahindra group, Claris Capital, Kalysta Capital, Dominor Investment
- Series B, Jul 12, 2016, $2.5M — Hong Shan
- Series B, Jun 10, 2015, $5.5M — Hong Shan, Kae Capital, Kalysta Capital
- Series A, Feb 20, 2015, $0.2M — Kae Capital, Kalysta Capital

## Investors

- Kae Capital (https://capitalatlas.ai/funds/kae-capital) — Series A, Series B, Series C
- Kalysta Capital (https://capitalatlas.ai/funds/kalysta-capital) — Series A, Series B
- Hong Shan — Series B, Series C, Series E
- Equentia Natural Resources (https://capitalatlas.ai/funds/equentia-natural-resources) — Series B
- The Mahindra group — Series B, Series C
- Claris Capital (https://capitalatlas.ai/funds/claris-capital) — Series B
- Dominor Investment (https://capitalatlas.ai/funds/dominor-investment) — Series B
- Lightstone Ventures (https://capitalatlas.ai/funds/lightstone-ventures) — Series D
- Vitruvian Partners (https://capitalatlas.ai/funds/vitruvian-partners) — Series E
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series E
- Lightrock (https://capitalatlas.ai/funds/lightrock) — Series E
- India Internet Fund (https://capitalatlas.ai/funds/india-internet-fund) — Series E