Airlift expands into grocery delivery as bus services halt

Bus ride-hailing service Airlift has raised $ 10 million in fresh funds from new and existing investors taking its total investment to $ 24.1m USD.

According to the details, Pakistani mobility startup Airlift announced its Airlift Grocer app which will deliver household essentials in Lahore with a whopping $ 10m in recent funding round.

Airlift announces “$ 10m Series A-1 financing” led by new partners along with participation from existing investors. Series A-1 financing is an investment in a privately-held or start-up company after it has shown progress in building its business model or has the potential to grow.

“At a time of mass turbulence in capital markets, Airlift’s Series A-1 round marks one of the largest capital investments in the region,” co-founder and CEO Usman Gul said in a statement.

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Airlift’s financing round marks one of the largest capital 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, highlighting the unique opportunity that is prevalent in the region.

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