Miguel Cordon · · 2 min readGobi-backed mobility startup Airlift bags $12m to scale operations
Pakistan-based decentralized mass transit system Airlift Technologies has banked US$12 million in a series A round led by US-based VC firm First Round Capital.
Photo credit: Itsonlychand
The company said it plans to use the new funds to scale its operations.
“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 centers,” said Airlift co-founder and CEO Usman Gul.
Before moving to Pakistan, Gul worked at US-based food delivery company DoorDash. Tony Xu, founder and CEO of DoorDash, was among the first few angel investors to support Airlift, according to the statement.
Through its app, Airlift provides daily pick-up and drop-off services for its users and allows bus owners to operate their vehicles on fixed routes. It started operations in March.
In August, the Pakistani startup raised over US$2.2 million in a seed funding round led by Indus Valley Capital and Fatima Gobi Ventures, a joint venture between Pakistan’s Fatima Group and China’s Gobi Partners.
At the time, the company said it was looking to expand its footprint to other major urban centers in developing markets, seeking to build the mass transit infrastructure for the developing world.
Editing by Charmaine de Lazo
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
