Pakistani ride-hailing and logistics service Bykea obtains $13 million for expansion of its platform.

Bykea, a pioneering Pakistani startup based in Karachi, has announced that it has raised $13 million in its Series B funding round. This investment, led by global tech investor Prosus Ventures, marks a significant milestone for the company and the Pakistani tech industry.

Founded in 2017 by Muneeb Maayr, Abdul Mannan, Ishaq Kothawala, and Rafiq Malik, Bykea has been at the forefront of innovation in Pakistan. The startup initially pioneered the concept of motorbike taxis in the country and has since expanded its services to include various transportation, logistics, and payment solutions.

The Series B round also saw participation from existing investors Middle East Venture Partners (MEVP) and Sarmayacar. However, no additional investors participating in the funding round could be found in the available search results.

Bykea's app offers a range of services, including motorbike ride-hailing, deliveries, on-demand delivery from nearby stores, utility bill payments, mobile wallets top-up, and a section for classifieds. The startup aims to expand its services to smaller cities where international players have struggled to grow their English-language platforms.

With the latest funds, Bykea plans to focus on expanding into and growing ecommerce logistics, food, and payment services in 2021. The startup currently operates in Karachi, Lahore, and Rawalpindi, with a network of over 30,000 active drivers.

The $13 million investment brings Bykea's total raise to $22 million, making it one of the best-funded startups in Pakistan. This investment also marks Prosus Ventures' first investment in a Pakistani startup, further underscoring the potential of the Pakistani tech industry.

As Bykea continues to grow and innovate, it is clear that the startup is playing a crucial role in shaping the future of Pakistan's tech landscape. The company's success serves as an inspiration for other startups in the country and beyond.

Pakistani ride-hailing and logistics service Bykea obtains $13 million for expansion of its platform.