Prime Minister Imran Khan welcomed on Friday a recent $85 million investment in a Pakistani technology start-up, Airlift, by the world’s leading venture capitalists (VCs).
“We applaud the recent investment of 85 million USD by leading venture capital firms in Airlift, a young Pakistani-led company,” the premier wrote on Twitter.
He stated that Pakistan possesses enormous potential due to the country’s openness to business.
The prime minister stated that the government is committed to attracting foreign investors. “My government is completely committed to opportunity creation,” the prime minister stated.
Airlift, a Lahore-based online shopping delivery service, has raised $85 million in Series B financing, the country’s largest single round of private funding.
The financing is approximately double the size of the country’s largest private company initial public offering and the largest in the Middle East and North Africa region.
Airlift Technologies, a pioneer in the recent wave of technology businesses, was founded in Pakistan by local entrepreneurs for local populations.
Airlift operates a rapid commerce service in eight cities throughout Pakistan, including Lahore, Karachi, and Islamabad. Users can order groceries, fresh produce, other essentials such as medications, and sporting goods through the Airlift website or app and have them delivered in 30 minutes.