Gobi-backed Pakistani startup Airlift raises US$12M Series A led by First Round Capital
Airlift, a mobile app that connects passengers with bus-owners in Pakistan, has secured US$12 million in Series A financing.
The round was led by First Round Capital, a US-based VC firm with notable investments in Uber, Square, Roblox, Looker and Notion.
With this financing, Airlift is looking to invest in technology and operations to scale its vision for a decentralised mass transit system, initially focusing on the developing world.
“In the future, mass transit systems will be dynamic in nature, catering and adapting to the changing needs of the urban population. Our vision for a decentralized mass transit system is a new concept, one that will fundamentally redefine how people commute in urban centres,” said Airlift’s Co-founder and CEO Usman Gul.
Airlift connects passengers with bus owners and enables them to commute across major residential and commercial hubs in Karachi and Lahore. The user can download the Airlifty mobile app and select a convenient pick-up and drop-off points on a travel-course operated by the bus. The user can then take a short walk to his/her agreed pick-up point to board your bus. He/she can then take a short walk from the agreed drop-off point to get to his/her destination.
Prior to moving to Pakistan, Gul previously worked at DoorDash, the largest food delivery platform in the US. Tony Xu, Founder/CEO at DoorDash was among the early investors of Airlift.
In August, just five months after launching operations, Airlift closed seed financing of US$2.2 million with Indus Valley Capital and Fatima Gobi Ventures, a JV between one of Pakistan’s leading conglomerates Fatima Group and Gobi Partners, co-leading the round. In October, the startup secured Series A financing, increasing its total capital to US$14.1 million.