Airlift announced on Wednesday its Airlift Grocer app which will deliver household essentials in Lahore.
It also announced a $10 million Series A-1 financing led by new partners along with participation from existing investors, increasing their total investment to $24.1 million. Series A-1 financing is an investment in a privately-held or start-up company after it has shown progress in building its business model or has the potential to grow.
As public transport services face restrictions or suspensions in the case of buses, tech-based ride providing services are facing a financial crunch. Recently, Careem laid off hundreds of employees citing business losses. These companies are now finding new avenues to stay afloat.
Recently, ride-hailing giant Careem also unveiled its Super App, which caters to people’s everyday needs, including payments, online grocery delivery, food orders and delivery services.
Founded in early 2019, Airlift was aiming to build a mass transit system, one built by local transporters for local populations. However, it had to suspend its operations due to the coronavirus pandemic.
Airlift Grocer has been introduced to remain in operation and at the same time create new employment opportunities for the riders on their platform. Airlift enables users to book rides on buses and vans that have fixed routes, stops and times in Lahore and Karachi.
The grocery service is currently only available in Lahore, but the company aims to expand it to Karachi soon.