HSN Ventures has announced a strategic investment in Delivery Chacha, a local delivery service. The investment will help scale operations and build logistics technology for concierge services and express e-commerce deliveries.
Shayaan Tahir, CEO of HSN Ventures, said:
Last mile logistics is the key to providing a fluid e-commerce experience. Instead of building our own logistics company and solving the problem just for ourselves, we decided to invest in a startup and help them understand the nuances of ecommerce. We hope that Delivery Chacha will be able to use our investment and build a platform that can serve the entire ecommerce industry.
Delivery Chacha delivers anything from food items to movie tickets and medical reports, all within 60-90 minutes. With over 10,000 deliveries per month in Karachi, Delivery Chacha is seeing tremendous month on month growth and recently started their operations in Lahore and Faisalabad as well.
Nashit Iqbal, founder and CEO of Delivery Chacha. said:
We are extremely excited about being part of HSN Ventures and look forward to working with them to solve last mile delivery challenges for ecommerce companies. This collaboration will bring us immense exposure and opportunity for growth as well as contribute to the emerging e-commerce industry at large.
Pakistan’s ecommerce market is currently estimated at $60 million, and is growing at a compound annual growth rate (CAGR) of over 100%. Industry experts believe that this trend will continue and estimate the industry to be approximately $1 billion by the year 2020.
HSN Ventures operates, incubates and invests in ecommerce opportunities in Pakistan. Online retailer Homeshopping.pk is an HSN Venture company. HSN Ventures is backed by Creative Chaos – a premier digital and technology services company in Pakistan.