Today, Airlift is announcing our $10m Series A-1 financing led by new partners and with strong participation from existing investors, increasing our total investment to date to $24.1m USD.
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.
Quiet Capital, based in San Francisco, led the round with TrueSight Ventures (London), RT Ventures (London), Shorooq Partners (Abu Dhabi), and ACE Capital (Taiwan) participating, among other local partners. Existing investors, First Round Capital (San Francisco), Fatima Gobi Ventures (Pakistan) and Indus Valley Capital (Pakistan) also continued their support for Airlift in this financing.
We are excited to team up with investors who share our vision of building a decentralized logistics platform, as well as our commitment to create positive impact in the region.
Given the Covid-19 threat, Airlift is committed to keeping our transit operations on pause until the situation stabilizes. Our team remains excited to resume transit operations once the worst of the pandemic is behind us. In the interim, via our mobile application, we are introducing Airlift Grocer, an off-shoot of our core technology platform that enables the delivery of all household essentials within 45 minutes. Consumers in Lahore can now order groceries and other household essentials through our mobile apps via the Google PlayStore, the Apple App Store or on the web via www.airliftgrocer.com.
Amidst Covid-19, Airlift is committed to supporting the government’s income substitution program by creating new employment opportunities for riders on our platform.
Airlift understands that the world has changed. Our value to our customers must evolve, our impact on the communities we serve must adapt accordingly. Airlift remains committed to resuming our operations on transit once the situation stabilizes. Until then, we look forward to serving our communities in new and innovative ways.