Airlift – A great addition to Pakistan's public transport system

[Mian]

Pakistan’s Airlift raises $12 million in country’s largest Series A to build a decentralized global mass transit system

Airlift, a Pakistan-based eleven-month-old decentralized mass transit startup, has secured $12M in Series A financing, it announced in a statement today.

The round is led by First Round Capital, a leading US venture capital firm with notable investments in Uber, Square, Roblox, Looker, and Notion. The round which is the largest Series A ever raised by a Pakistani startup also marks one of the largest financings in South Asia this year and the first time that a US-based VC has led a round in Pakistan. The round was also joined by Fatima Gobi Ventures, a joint venture between one of Pakistan’s leading conglomerates Fatima Group and Gobi Partners, and Indus Valley Capital.

Founded by Usman Gul, Ahmed Ayub, Awaab Khaakwany, Meher Farrukh, Muhammad Owais, and Zohaib Ali earlier this year, Airlift enables users to book rides on premium quality (air-conditioned) buses (and vans) that have fixed routes, stops and times, in Lahore and Karachi.

https://www.menabytes.com/airlift-series-a/

 

[Abdullah719]

Pakistan’s Airlift raises $12 million in country’s largest Series A to build a decentralized global mass transit system

Airlift, a Pakistan-based eleven-month-old decentralized mass transit startup, has secured $12M in Series A financing, it announced in a statement today.

The round is led by First Round Capital, a leading US venture capital firm with notable investments in Uber, Square, Roblox, Looker, and Notion. The round which is the largest Series A ever raised by a Pakistani startup also marks one of the largest financings in South Asia this year and the first time that a US-based VC has led a round in Pakistan. The round was also joined by Fatima Gobi Ventures, a joint venture between one of Pakistan’s leading conglomerates Fatima Group and Gobi Partners, and Indus Valley Capital.

Founded by Usman Gul, Ahmed Ayub, Awaab Khaakwany, Meher Farrukh, Muhammad Owais, and Zohaib Ali earlier this year, Airlift enables users to book rides on premium quality (air-conditioned) buses (and vans) that have fixed routes, stops and times, in Lahore and Karachi.

https://www.menabytes.com/airlift-series-a/

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">So the Sindh government banned Airlift and Swvl, private-run transport companies, on the basis of missing "vehicle fitness certificates." Meanwhile, this is the kind of bus that runs on the roads of Karachi. <a href="https://t.co/ukTZqYZlyA">pic.twitter.com/ukTZqYZlyA</a></p>— Bina Shah (@BinaShah) <a href="https://twitter.com/BinaShah/status/1193440736089399296?ref_src=twsrc%5Etfw">November 10, 2019</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[Abdullah719]

Pakistan’s Airlift raises $12 million in country’s largest Series A to build a decentralized global mass transit system

Airlift, a Pakistan-based eleven-month-old decentralized mass transit startup, has secured $12M in Series A financing, it announced in a statement today.

The round is led by First Round Capital, a leading US venture capital firm with notable investments in Uber, Square, Roblox, Looker, and Notion. The round which is the largest Series A ever raised by a Pakistani startup also marks one of the largest financings in South Asia this year and the first time that a US-based VC has led a round in Pakistan. The round was also joined by Fatima Gobi Ventures, a joint venture between one of Pakistan’s leading conglomerates Fatima Group and Gobi Partners, and Indus Valley Capital.

Founded by Usman Gul, Ahmed Ayub, Awaab Khaakwany, Meher Farrukh, Muhammad Owais, and Zohaib Ali earlier this year, Airlift enables users to book rides on premium quality (air-conditioned) buses (and vans) that have fixed routes, stops and times, in Lahore and Karachi.

https://www.menabytes.com/airlift-series-a/

Used Airlift for the first time today.

Prices obviously much better than Careem etc.

Vans/buses are in great condition, air-conditioned and what not so the experience is fairly a comfortable one.

 

[JaDed]

This is an excellent idea actually, when i was studying in B’lore I remember these unorganized taxis and buses of local travelers or MLAs from Marthahali to Silk Board

[MENTION=139758]pillionrider[/MENTION] [MENTION=113824]Nikhil_cric[/MENTION]

Problem with this is Public transport is the only few things the govn operates, and the prices have to be maintained coz we pay taxes..

 

[Nikhil_cric]

This is an excellent idea actually, when i was studying in B’lore I remember these unorganized taxis and buses of local travelers or MLAs from Marthahali to Silk Board

[MENTION=139758]pillionrider[/MENTION] [MENTION=113824]Nikhil_cric[/MENTION]

Problem with this is Public transport is the only few things the govn operates, and the prices have to be maintained coz we pay taxes..

I think BMTC can implement this just for the Volvos on high density routes like the ones to Electronic city, ITPL, Hebbal etc - basically where the tech parks are and see what the response is.

 

[Sarfarazian92]

Used Airlift for the first time today.

Prices obviously much better than Careem etc.

Vans/buses are in great condition, air-conditioned and what not so the experience is fairly a comfortable one.

Peak factor wala scene hai inka? Might try them out during the PSL

 

[Abdullah719]

Peak factor wala scene hai inka? Might try them out during the PSL

Not that I know of, but they have differing rates.

I had to go from Do Talwar to an area near the airport, some of the rides were costing 60 rupees and some 90, same on the way back.

The main thing is you have to make sure that you're punctual because they only wait at the designated stop for like 1-2 mins. So try to be there ahead of time. Thankfully, you can also track the bus while it's on the way, so that helps.

 

[pillionrider]

This is an excellent idea actually, when i was studying in B’lore I remember these unorganized taxis and buses of local travelers or MLAs from Marthahali to Silk Board

[MENTION=139758]pillionrider[/MENTION] [MENTION=113824]Nikhil_cric[/MENTION]

Not familiar with that route but yeah, have used those matador, tempo traveler ones. Haven't used public transport in over a decade actually so no idea what's the current situation. Did your engineering here? I was in RV, though I never really have worked as an engineer. Some would say I haven't worked at all

 

[JaDed]

Not familiar with that route but yeah, have used those matador, tempo traveler ones. Haven't used public transport in over a decade actually so no idea what's the current situation. Did your engineering here? I was in RV, though I never really have worked as an engineer. Some would say I haven't worked at all

Yeah did my engineering there luckily was in hostel but whenever had to get out lol, after 6 was a disaster.

Ah RV is amazing college though, Kumble‘s alma
matter, not many know he was an engineer.

Yeah those tempo and Matador nonsense , my fav was those regional buses in that route , they would have some nonsense movie running and during some “super traffic “ days along the route just that route movie would get over.. not sure how it is now.

 

[pillionrider]

Ah RV is amazing college though, Kumble‘s alma
matter, not many know he was an engineer.

It's ok. More hype than anything. Saeed Anwar too.

Yeah those tempo and Matador nonsense , my fav was those regional buses in that route , they would have some nonsense movie running and during some “super traffic “ days along the route just that route movie would get over.. not sure how it is now.

Worst experience was in summer, someone breaks wind

 

[JaDed]

It's ok. More hype than anything. Saeed Anwar too.


Worst experience was in summer, someone breaks wind

I didn’t know about Saeed Anwar ,
haha most colleges feel that way.

haha yeah.. atleast B’lore is cooler imagine Chennai, that’s why this seems amazing but I see how they will have those price fluctuations.

 

[WebGuru]

I didn’t know about Saeed Anwar ,
haha most colleges feel that way.

haha yeah.. atleast B’lore is cooler imagine Chennai, that’s why this seems amazing but I see how they will have those price fluctuations.

Saeed Anwar graduated from NED in computer system engineering and was going to US before he switched to professional cricket.

Atif Aslam also holds degrees in computer science.

 

[JaDed]

Saeed Anwar graduated from NED in computer system engineering and was going to US before he switched to professional cricket.

Atif Aslam also holds degrees in computer science.

Yea as soon as Pillionrider said I googled, weird how life took a complete turn for him.

Knew about Atif Aslam..I think somehow cricketers being engineers fascinates me more than artists coz sports is defined by an age..

 

[cric_man]

Saeed Anwar graduated from NED in computer system engineering and was going to US before he switched to professional cricket.

Atif Aslam also holds degrees in computer science.

My Alma mater

 

[pillionrider]

I didn’t know about Saeed Anwar ,

Forgot to mention our Mysore boy Javagal Srinath.

Think Zaheer Khan also dropped out of engineering or something.

 

[MenInG]

In the face of global recession, one of Pakistan’s top startups Airlift told its employees on Tuesday that it was shutting down its operations from Wednesday.

The startup was attempting to put together a new round as recently as last week but “multiple” investors told the firm that it will take them at least two months to wire the money, TechCrunch reported quoting slides presented to the employees.

“Other investors unwilling to assume the risk of wiring ahead of others,” the slide said.

According to DealStreetAsia, Airlift had paused all deliveries across Pakistan during the three-day festival of Eidul Azha, which typically sees a surge in demand for delivery services. In addition, the company had been emptying warehouses and moving inventory in the run-up to the announcement.


Read more: Airlift secures $85m in series B financing

“Slack has been dead and no one has been working. We’re all just waiting for the announcement,” the report quoted a management-level Airlift employee ahead of the meeting as saying.

In August 2021, Airlift announced $85 million series B financing led by investors around the world and was one of the largest financing in the Middle East and North Africa (MENA) region co-led by Josh Buckley (Buckley Ventures) and Harry Stebbings (20VC).

The financing was about twice the size of the largest private company initial public offering (IPO) in Pakistan’s history and the highest in the MENA region.

DealStreetAsia, quoting sources, said that Airlift was in talks to secure bridge financing of $20 million to tide over its funding crisis. However, it was told by multiple investors that they needed more than two months to wire the money.

While fundraising remained an issue for Airlift, said the report, operational challenges pushed the firm over the brink, several employees pointed out.

Despite the layoffs and scaling back measures in May, Airlift did not implement austerity measures and continued to overlook the core of its operations, the sources added.

“Things would always be out of stock. Consumer platforms on social media were full of complaints,” said a member of the operations team.

Sources state that co-founder Usman Gul was looped in and was looking into it personally but the problem could not be addressed in a timely manner. This is likely due to the working capital and liquidity crunch the company was facing as the runway was drying up.

“While branding and communication are important, instead of focusing on the core of their business and getting operations sorted, priorities remain fixated on optics at such a critical juncture,” added the source.

https://tribune.com.pk/story/236564...operations-in-pakistan-following-funding-woes