Airlift secures $85 million through largest-ever private investment

A home-grown Pakistani startup, Airlift Technologies Pvt, has secured single private funding of $85 million (13990436365.00 PKR)- the largest in Pakistan’s history. The company plans to expand overseas as a regional startup financing boom begins in the country. Typically, Series B financing is for companies that have reached certain milestones. They have also completed the initial phase of their startup.

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Airlift Technologies is a Pakistani start-up operating in logistics and quick commerce, based in Lahore. Premier Imran Khan also welcomed the $85 million Series B financing in Airlift on Friday. “We welcome the recent investment of $85m by leading VCs (venture capitalists) of the world in Airlift, a company led by young Pakistanis,” the premier tweeted.

Airlift Technologies Co-founder and CEO Usman Gul said the financing will add five per cent to the country’s foreign direct investment (FDI) for the fiscal year 2022. The investment will increase the country’s foreign direct investment (FDI) to five percent for the fiscal year 2022, said Airlift Technologies Co-founder and CEO Usman Gul.

Source: Dawn