Pakistan’s fastest growing tech enabled last mile logistics company, “Cheetay” has raised $7.8 million in a Series A round from US based investors bringing the total raised investment of the company to $11.5 million.
“Cheetay” logistics company provides services in delivering food, groceries, parcels and medicines. This is the largest amount raised by any local Pakistani startup in an early stage round.
Founder of and former CEO of Daraz.pk Mr. Ahmed Khan said, “This extent of capital is a evidence to the quality of technology that we have developed locally in Pakistan and acknowledgment by the fundraising through international investing community, we are now searching for ambitious, talented and creative leaders who can help take us to the next level”.
Currently Cheetay services available in four cities of Pakistan i.e. Lahore, Karachi, Islamabad and Rawalpindi. CEO Majid Khan said “he wanted the company to have operations in every extensive city of Pakistan and intends to use funds in rapid geographic expansion in this year”.
The company emphasis to transform Pakistan’s tech space by developing a platform that connects local talent by increasing the employment rate and giving opportunities in the country, continue investing in the development of its industry leading logistics technology and algorithms, and roll out new lines of business targeting E-commerce categories.