Cheetay Logistics raises $7.8mln

KARACHI: Cheetay Logistics has raised $7.8 million in a Series A round from US-based investors, which brings the inception-to-date funding for the company to over $11.5 million, a statement said.

This was 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 said, “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 services four Pakistani cities, but CEO Majid Khan said he wanted the company to have operations in every sizeable city in the country and expects rapid geographic expansion this year.

The company intends to use the funds raised to enable its geographic growth, aggressively expand the team, continue investing in the development of its industry-leading logistics technology and algorithms, and roll out new lines of business targeting NOW-Commerce categories.