Air traffic goes to the grocery with a whopping $10 million in latest round of financing | Instant News

August 2019 the airlift closed a significant seed capital round of $ 2.2 million after five months in their activities. Only two months apart, then 11-month-old startup has attracted the largest of Pakistan is a circle with $ 12 million investment from leading investors to scale its decentralized mass transit operations.

Devastating, Hyper-growth model of massively scaling to millions of users in Pakistan by connecting them with buses For transportation. Models that threaten the markets Careem and Uber.

And then COVID hit.

But the airlift was able to keep up with his legacy of raising his eyes appear – by Pakistani standards – investment. He did it again today with the announcement of a $10 million series A1 round to scale its delivery of products operations – turn, but rather a necessity, in times of a pandemic.

“Today, the airlift announces series 10m $a-1 round of financing, led by new partners and with the active participation of existing investors, increasing the volume of investments to date amounted to 24.1 million.” the airlift is told in the message.

The round was led by San Francisco Pacific capital, with the London functions of companies and enterprises, partners Shorooq ACE capital Abu Dhabi and Taiwan to participate in the competition among other local partners. Existing investors that include first round capital, which led an early investment in Uber, among other startups, Fatima enterprises Gobi and the valley of the Indus capital has also continued its support of air transportation in this financing.

“The financing round marks air transport is one of the largest investments in the region, at a time when the risk of a global recession is at an all time high. The investment marks a new high for the Pakistani startup ecosystem, emphasizing the unique opportunity that is prevalent in the region,” reads the company’s statement read.

When COVID hit, almost all well-known startups have moved in shipping products, because products, household items and lock in place, it made sense. The website Foodpanda, Cheetay, Uber – startups that organization as its core activities, decided to supply the grocer with different models – mostly dropshipping.

In dropshipping, startups will accept grocery orders online, buy it from the seller and deliver it to consumers. An example would be Cheetay. And these models were adopted almost immediately.

And the airlift came in a bit late delivery, but with a large capital investment, and its own fulfillment center: it owns, owns, and manages inventory at its warehouse, located in Lahore, which provides clients and plan to scale operation for multiple warehouses, as the company tells us.

An old player in this space with its own serving GrocerApp, with the same model, but different advantages, such as timely delivery and a full inventory.

The airlift has its own compelling advantages: it promises to deliver orders in 45 minutes, with high accuracy of the order and best of optionality inventory.

“In the last few months we have optimized the process so much that now we are able to deliver the products within 45 minutes and with high accuracy order”, Executive Director of airlift technology, Syed Haider Mehr says Profit.

The service is currently available only in Lahore.

The company, however, stresses that for the air transportation of grocer – brand for the grocery business is an intermediary service, outside to shoot through the air technology umbrella, the emphasis is still on public transport, which has been put on a halt because of the pandemic, and the isolation that followed it. The company remains committed to the renewal of key transit operations after the pandemic subsides.

“Given the Covid-19 threat, the airlift is committed to maintaining our transit operations to pause until the situation stabiliziruemost. Landing remains committed to the resumption of transit, as soon as the situation stabiliziruemost. In the meantime, we look forward to serving our communities in new and innovative ways,” reads the company’s statement read.

“In the interim, through our mobile app within 45 minutes. Consumers in Lahore, you can now order groceries and other household items with the help of our mobile application via Google chat, Apple’s application store or the Internet,” she added.

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