Bangalore: Mumbai based Resfeber Labs Pvt. Ltd, which runs online logistics market place “The Porter” to book trucks and tempos, raises Rs.3 crore ($500,000) from Kae Capital. The company said that the latest funding will be utilized to enhance its wings in Delhi and Bangalore as well as expanding its fleet in Mumbai and to hire talent employees for business development and technology functions.
The Porter, which makes intra-city pickups and deliveries through a group of vehicles ranging from Tata Ace to Tata 909 was founded by IIT graduates Pranav Goel, Vikas Choudhary and Uttam Digga in August 2014. The Porter is working hardly to eliminate the middleman by using technology to improve logistics. Through its mobile app, it also facilitates users to hire vehicles for relocation, e-Commerce deliveries, to move construction materials and perishables; one can also track the vehicle by using Porter’s tracking system. The company services spread all over Mumbai with a fleet of 100 trucks.
Prior to this, Pranav and Digga worked with J.P Morgan as analysts and Vikas worked as an ASIC engineer in Juniper Networks. As of now, the firm processes over 2000 transactions every month and makes over Rs.25 lakh monthly revenue.
Founded in 2008, the VC firm Kae Capital targets large market opportunities and partners with early stage startups which have the potential to return healthy returns.
The logistics startup firm is in talks to raise Series A round funding of Rs.30-40 crore in the next six months.