In October 2021, when tech-enabled logistics platform Porter raised Rs 750 crore in Series E funding from Tiger Global and Vitruvian Partners, it announced the consolidation of another start-up in the logistics space that is likely to hit the market size of $380 billion by 2025. This soonicorn rivals companies like Delhivery, the market leader whose valuation rose to $4.89 billion when it went public, and Xpressbees, which became a unicorn in February last year when it raised $300 million in the Series F funding round.
When Digital Disrupts Only VC Books
The country’s digital journey started almost two decades ago. Over 100 unicorns later and consuming billions of dollars in VC money, Indian digital companies are still looking for viable profit routes. How big is the failure of India’s digital copycat start-ups?