Pakistani startup Airlift raises $10mn in Series A-1 financing

Airlift, the ride-hailing startup which connects passengers with buses on fixed-rate, has raised $10 million for their Series A-1 financing, the startup announced on Wedesday.

As per the company, the financing was led by San Francisco based Quiet Capital, with the latest round of financing Airlift total investment to date has raised to $24.1mn.

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, said the company.

Last year in November, the company raised $12 million for its Series A financing, which was the largest ever funding for a Pakistani startup and one of the largest raised by any startup within the South Asian region in 2019.

In August, just five months after launching its operations, the company closed seed financing of $2.2 million with Indus Valley Capital and the Fatima Gobi Ventures co-leading the round.

In the meantime, Airlift has announced that it would resume its transit operations once the COVID-19 pandemic is curbed down. “In the interim, we have introduced Airlift Grocer — a 45-minute delivery service for all household essentials. You can access Airlift Grocer via the App Store, the Playstore, or on the web,” the company said.