Participated · Seed · Jun 2021

zip24 offers cloud-based operations management software for e-commerce brands, with Delivery Management Software (Shipox.com) and Warehouse Management Software (Storfox.com). The platform enables users to forecast orders and logistics transactions and to control day-to-day retail, warehousing, shipping and fulfillment with end-to-end delivery tracking. Customers include more than 100 e-commerce merchants, retailers, logistics firms, FMCG companies and restaurants. Founded by Muzaffar Karabaev and Asif Keshodia, the company is headquartered in Dubai and maintains development and support hubs in Uzbekistan, Pakistan and the UK. In June 2021 zip24 raised US$1.2M in a pre-series funding round to support growth. The company plans to use the funds to expand its tech, product and operations teams in Tashkent, Dubai and London.

Led · Series A · Jun 2021

GrocerApp operates a low-price online supermarket in Pakistan, offering groceries, vegetables, beauty & wellness, household care, baby care, pet care, meats & seafood with doorstep delivery. Founded in 2016 by Ahmad Saeed, Hassaan Sadiq, and Rai Bilal, the company emphasizes customer experience and seamless order fulfilment. The founders previously played key roles scaling PakWheels and have rapidly expanded GrocerApp from Lahore into Islamabad and Rawalpindi. Between its $1.0M seed round and this Series A, the company reported a 300% increase in orders and revenue, with total annualized revenue exceeding US$15 million. Management states unit economics are sustainable and plans include expanding to additional strategic Pakistani cities and launching new online grocery initiatives. GrocerApp highlights its operational infrastructure for receiving orders, beginning fulfilment, and completing delivery to support daily customer growth. GrocerApp, founded in Lahore in 2016 by Ahmed Saeed, Hassaan Sadiq, and Bilal Zafar, operates an online grocery platform allowing customers to order groceries, fruits, vegetables and meat through web and mobile apps for same-day delivery. The company runs a pure-play model with its own inventory, fulfillment centers and an operations model that now relies on a network of freelance drivers. GrocerApp offers about 4,000 SKUs in Lahore and 1,500 SKUs on its app in Islamabad and Rawalpindi following recent expansion. It has recently achieved multi-fold growth and is currently growing at 20–30% month-over-month. The startup plans to use new funding to make its supply chain more efficient, automate processes to scale, and fuel further expansion. Management is exploring expansion to Karachi next year.

Led · Seed · Feb 2016

Ribbit.me has developed what it calls the world’s first universal platform for the loyalty and rewards industry that runs on blockchain and smart contract technology. By allowing airlines, hotels, and other program operators to share a distributed ledger, the system lowers operational costs, streamlines customer experiences, and improves management of rewards liabilities. The company’s patent-pending approach enables multi-agent redemption networks and dynamic issuance and redemption options, forming the foundation of its envisioned single ecosystem called LoyaltyNetwork. Management cites a U.S. loyalty market of $65 billion that is expected to double within five years, underscoring the scale of its opportunity. Proceeds from its seed financing will be used to expand the team and accelerate product development as demand for behavior-incentivization solutions grows. No specific revenue or user metrics were disclosed in the article.