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Pakistani D2C platform Airlift Technologies soars to US$ 110 million after raising US$ 85 million in Series B funding

Airlift Technologies Inc. is an online delivery platform based in Lahore, Punjab. The startup has secured a fundraise of US$ 85 million on August 18 2021, co-led by notable angel investors Josh Buckley Buckley Ventures and Harry Stebbings from 20VC.

Former president of Y Combinator, Sam Altman; co-founder of Twitter and Medium, Biz Stone; co-chairman of Bain Capital, Steve Pagliuca; ex-chief executive of Disney and Quibi, Jeffrey Katzenberg and the founder and chief executive of TransferWise, Taavet Hinrikus, were also seen participating in the new financing round along with co-founder of DoorDash, Stanley Tang; founder and chief executive of Rappi, Simon Borrero; founder and chief executive of Postmates, Baastian Lehman; Quiet Capital and Indus Valley Capital.

The latest fundraiser is, so far, the most extensive funding received by any Pakistani startup, valuing the startup at a total of US$ 110 million.

Fund Utilisation

“This entire space of quick commerce is on the brink of a global transformation. Airlift is in the forefront for leading that transformation in Asia and Africa,” he said. Gul said that the company plans to use the funds to expand the service to many international markets in the following months.

What the CEO has to say

Co-founder and CEO Usman Gul, said, “With this financing, we must return to where we started from — fighting against the odds and staying true to our core values of hustle, teamwork, resourcefulness, and bias to action. If this is the journey of a thousand miles, we have taken only the first step.”

What the Investors have to say

Josh Buckley, said in a statement, “The best operators in the space are backing Airlift, in large part due to the track record of the team and the company’s focus on Asia and Africa — for this model, developing markets will get to profitability much faster than similar companies in developed markets.”

Harry Stebbings comments, “When I first met Usman, I knew this was an entrepreneur who was going to create an industry-defining company. Humble, ambitious, and strategic, Usman will be one of the great founders of this generation.”

Former president of Y Combinator, Sam Altman, remarks on the latest investment, “Airlift’s early traction in Pakistan is a window into the future for how quick commerce will play out in the developing world.”

About Airlift Technologies

Founded in 2019 by Ahmed Ayub, Meher Farrukh and Usman Gul, Airlift is a logistical delivery platform intending to build a world of self-empowerment using technology-backed logistics solutions that enable safe, reliable and affordable access to necessities. Airlift scaled Pakistan’s largest decentralised transportation network to change the way people move, shifting away from private vehicles towards shared mobility and reasonable mass transport.

In 2020, Airlift diversified into last-mile delivery through Airlift Express, delivering essentials across households in 30 minutes across Lahore, Karachi, Islamabad and Rawalpindi. Airlift Express spans food supplies, household supplies, pharmacy, stationery, pet food, fresh fruits and vegetables, small electronics and more. To know more, visit https://airlifttech.com/.

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