Airlift, Ride-Hailing Startup for Public Transport, Raises $2.2 Million Funding

The Lahore-based transportation startup, Airlift plans expansion to Bangladesh and Kenya after securing $2.2 million in a seed round led by Fatima Group, China’s Gobi Ventures, and Indus Valley Capital, making it the largest-ever investment in a seed round by a Pakistani startup.

Founded by Awaab Khaakwany, Meher Farrukh, Muhammad Owais, Zohaib Ali, Usman Gul and Ahmed Ayub, Airlift comes as a reliable alternative to public transportation, offering premium vans and buses in Karachi and Lahore. The app-based service with hundreds of vehicles in its network offers fixed times and routes in two cities.

The founder and CEO of one of the largest food delivery services, DoorDash, Tony Xu initiated the seed round with multiple local individual investors in attendance.

According to Airlift CEO, Usman Gul, Airlift offers value for both the consumers and the vehicle owners.

Airlift reduces both commute time and cost. Airlift’s proprietary dynamic stops technology lies at the heart of our marketplace.

Usman disclosed during a conversation with a local tech website that they have received multiple acquisitions offers as well.

We have received multiple acquisitions offers from ride-hailing giants but we are currently not actively seeking acquisition or exit options. Our vision is to build the mass transit infrastructure of the developing world, starting with Lahore and Karachi.

Via MENABytes

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