business
Friday Aug 20 2021
By
Web Desk

PM Imran Khan welcomes foreign investment worth $85m in Pakistani start-up Airlift

By
Web Desk
Prime Minister Imran Khan. Photo: Geo.tv/ file
Prime Minister Imran Khan. Photo: Geo.tv/ file

  • PM Imran Khan welcomes foreign investment in start-up Airlift.
  • Says there are vast investment opportunities in Pakistan.
  • Airlift, a Lahore-based online shopping delivery service, has raised $85 million in Series B financing, the largest single private funding round in Pakistan’s history.


ISLAMABAD: Prime Minister Imran Khan welcomed on Friday a recent investment worth $85 million by the world’s leading Venture Capitals (VCs) in a Pakistani tech start-up, Airlift.

“We welcome the recent investment of 85 million USD by leading VCs of the world in Airlift, a company led by young Pakistanis,” the premier wrote on Twitter.

He said Pakistan had huge potential as the country is open for business.

The premier expressed the government’s commitment to create opportunities for foreign investors. “My government is fully committed to creating opportunities,” the prime minister said.

Read more: Eyeing international expansion, Pakistani startup Airlift secures $85m financing

Airlift, a Lahore-based online shopping delivery service, has raised $85 million in Series B financing, the largest single private funding round in Pakistan’s history.

The financing is about twice the size of the largest private company IPO in the country’s history and the highest in the Middle East and North Africa region.

A pioneer in the recent wave of technology businesses, Airlift Technologies was started in Pakistan by local entrepreneurs for local populations in the recent wave of technology businesses.

Airlift operates a quick commerce service in eight cities including Lahore, Karachi, and Islamabad in Pakistan. Users can order groceries, fresh produce, other essential items including medicines as well as sports goods from the Airlift website or app and have the items delivered to them in 30 minutes.