Cheetay Logistics (Pvt.) Ltd., Pakistan’s fastest growing tech-enabled last-mile logistics company, announced today that it has raised $7.8 million in a Series A investment 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 CEO 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 operates in 4 cities but CEO Majid Khan said that he wants the company to have operations in every sizeable city in Pakistan and expects rapid geographic expansion this year.
The company intends to use the funds to enable its geographic growth, aggressively expand the team, continue investing in the development of its 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!
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