Cheetay Logistics (Pvt.) Ltd., One of Pakistan's fastest growing tech-enabled last-mile logistics company, announced today that it has raised $7.8 million in a Series A round from U.S.-based investors. This brings the inception-to-date funding for the company to over $11.5 million.
This is the largest amount raised by any local Pakistani start-up in an early stage round. Ahmed Khan, Founder of Cheetay and former MD of Daraz.pk stated,
This magnitude of capital is a testament to the quality of technology that we have developed locally in Pakistan and a recognition by the international investing community of Cheetay's success to date and the enormous opportunity ahead of us. With the fundraising behind us, we are now searching for driven, talented and creative leaders who can help take us to the next level.
Cheetay currently services 4 Pakistani cities but CEO Majid Khan said that he wants the company to have operations in every sizeable city in the country and expects rapid geographic expansion this year. The company intends to use the funds raised to enable its geographic growth, aggressively expand the team, continue investing in the development of its industry-leading logistics technology and algorithms, and roll out new lines of business targeting NOW-Commerce categories.
I want to thank all the members of the Cheetay team for their energy, enthusiasm and dedication in creating a business so compelling that it is attractive on a global scale. We are going to deploy our capital aggressively in our bid to become Pakistan's pre-eminent technology company!
Cheetay Logistics (Pvt.) Ltd. is Pakistan's first, and on of the largest and fastest-growing tech-enabled last-mile logistics company. It operates in the NOW-Commerce space with a primary focus on delivering food, groceries, parcels and pharmaceuticals. Cheetay's vision is to lead Pakistan's tech revolution by developing and harnessing local talent while improving the lives of countless Pakistanis by creating employment and advancement opportunities in the country. Cheetay currently operates in Lahore, Karachi, Islamabad and Rawalpindi.
Source: Pro Pakistani