Plans to invest US$ 50mn for international expansion in the next 5 years
Porter, India’s leading tech-based, on-demand logistics company, has recently announced its first overseas expansion with entry to UAE offering intra-city logistics services in Dubai. The expansion comes under the company’s current plan to explore the GCC regions, and the Indian subcontinents.
The company will provide a tech-enabled platform to ensure hassle-free deliveries through its LCVs and two-wheelers addressing the gap in intracity logistics requirements in the region for small package delivery requirements of both personal and businesses.
Investment
Presently with more than 20,000 + customers onboard, Porter plans to make an investment of US$ 6mn in UAE for the next three years. Additionally, the company is looking to bolster operations in these cities and further double their customer acquisition by to over 40,000 and vehicle base over three times to over 800 by March 2024.
Porter offers cost-effective solutions that can help in improving lower vehicle utilisation, increasing the competence of the system, and ensuring the availability of appropriate vehicles for customer requirements.
This will also result in efficient intracity logistics, lesser rates for customers and more earnings for driver-partners. The company currently has over 300 LCVs on the platform and recently introduced 15 two-wheelers to expand its operations in the region, a press statement indicated.
Holistic growth
“The expansion in UAE will catalyze the holistic growth of intra-city logistics ecosystem globally while also benefitting the local economy. We, at Porter are also actively focusing on generating employment opportunities for driver-partners and offering economical and efficient solutions backed by technology to the customers,” stated Pranav Goel, CEO & Co-Founder, Porter.
“Our model helps to bring efficiency into the system by addressing issues such as lower utilisation of vehicles, unavailability of the right vehicle type and the high cost for customers. This expansion should help provide a logistics solution for businesses as well as offer consumers direct control over their deliveries,” affirmed Ankit Dwivedi, AVP, International Business, Porter.
The company looks forward to tapping more potential opportunities in the intra-city logistics segment in the future for scaling its business, the press communique concluded.
