Participated · Equity · Jun 2022

Bykea operates a motorbike-based on-demand platform offering two-wheeler ride-sharing, instant deliveries, offline-to-online commerce and payment services for small businesses. It runs a network of motorbikes serving transport and delivery services for an estimated 40 million citizens in urban Pakistan. The company has seen growth over the past two years across its three operating cities: Karachi, Lahore and Islamabad. Bykea plans to use the new capital to enhance and extend its mobility and fulfillment services for consumers and SMEs, including food and e-commerce deliveries. Management also intends to leverage its fleet for fintech use cases such as cash-on-delivery, cash-pickup and verification services. Led by founder Muneeb Maayr and Executive Chairman Jonas Eichhorst, the company recently raised $10M in funding. Bykea is a four-year-old Pakistan-based startup that leads the country's two-wheeler ride-hailing market and also operates logistics delivery and financial-services businesses. It works with more than 30,000 drivers across Karachi, Rawalpindi and Lahore and supports localized features such as Urdu in its app. The company has partnered with banks to enable bill payments and cash delivery and is looking to further expand its financial-services offerings. Bykea aims to become a 'super app' for Pakistan and plans to deepen market penetration rather than expand regionally for now. Operations largely recovered after COVID-related lockdowns; the company avoided layoffs, cut expenses and built its own mapping system to reduce its prior roughly $60,000/month Google Maps bill to less than a tenth. The fresh capital will support expansion of its network and product ambitions while the company continues to outcompete regional players through localized solutions.

Participated · Series A · Apr 2022

Abhi is a company that recently secured new financing. The article does not reveal the firm’s industry, product line, or business model. No details are provided on its user base, revenue, or other key operating metrics. The company’s year of founding, headquarters, and leadership team are also not mentioned. The only concrete information available is that it has obtained additional capital, suggesting a need to fund growth or extend runway. Beyond the funding headline, no future plans or strategic initiatives are described.

Participated · Equity · Jun 2021

Dawaai is an online pharmacy launched in 2014 that operates what it touts as Pakistan's largest pharmaceutical marketplace, offering authentic and affordable medicines via web and mobile apps. It also runs an enterprise one-stop shop for the inventory needs of small pharmacies. The company provides teleconsultations, nursing, physiotherapy and at-home lab testing services. Dawaai employs over 250 staff and serves 11 million people with deliveries made in 98 cities. The firm has raised $10.5 million to date and plans to deploy the latest proceeds to build pharmaceutical supply chain infrastructure in Pakistan and invest in technology for business optimisation.