India, May 16 -- Peak XV Partners has clocked nearly 10x returns by fully exiting its investment in hyperlocal logistics startup Porter during the company's latest fundraising round.

Sources told Inc42 that Peak XV exited with a payout close to INR 1,200 Cr on a total investment of around INR 116 Cr.

"The company has grown tremendously since our Series A investment in 2015 and is now worth over a billion dollars. After a decade-long partnership with the team, we have exited our investment," a Peak XV spokesperson said.

Mint reported the development first.

Although Peak XV did not disclose the stake details from Porter's exit, reports suggest that the VC firm previously owned 13.77% of the company.

Just a few days back, Porter turned ...