Pakistan start up Airlift raises $2.2m
Airlift to expand urban center footprint with fresh capital
In a comment, Pakistan’s Airlift transport company received $2.2 million in the seed round led by Fatima Gobi Ventures and the local corporation Indus Valley Capital.
The new money will be used to extend the footprint of Airlift to other significant metropolitan centres on emerging economies. First of all, MENAbytes disclosed the growth, making the seed round the biggest fund received by any Pakistani company.
Airlift was established at Lahore in March 2011 by Usman Gul, Ahmed Ayub, Awaab Khaakwany, Muhammad Owais, Meher Farrukh and Zohaib Ali. The company offers a market that enables bus holders to run busses on set lines and provides a stop-to-stop alternative. Users can order high-quality trips and air-conditioned busses or vanes in Lahore and Karachi with paths, stations and moments.
The company argues to finish more than 50,000 journeys each month. Gul had a stop with DoorDash-its creator and CEO Tony Xu, an angel entrepreneur, supported Airlift. ZipGo’s co-founder Pritesh Gupta has also entered Airlift as a consultant.
In the study by MENAbytes, Gul said that Airlift has obtained’ numerous acquisition deals from ride-hailing stars.’
Fatima Gobi Ventures is a $20 million company created by Fatima Ventures, the VC subsidiary of the Pakistani Fatima Group conglomerates, and the Gobi Partners from China and Kuala Lumpur. The Chinese VC produced its first purchase in Pakistan last November, supporting the $1.5 million Series A travel company Sastaticket.pk.
The Pakistani industry appears to have risen and shown considerable investor stake. While ride-hailing and package shipping start-up Bykea received a $5.7 million Series A in April, e-ticketing service Transport and Events Bookme received an unrevealed amount in the same month for its pre-Series A round.
Invest2innovate (i2i) Ventures has introduced its first $15 million grant on the VC front with interest in the Mauqa Online enterprise in Islamabad. Another VC company, Sarmayacar, provided the International Finance Corporation (IFC) of the Global Bank Group’s $2.5 million dedication to the $30 million grant retained for its first start last November.