Pakistani mobility startup Airlift has raised $10 million in fresh funds from new and existing investors, it announced in a statement to MENAbytes today. The round, Series A-1, comes just eight months after Airlift closed $12 million in country’s largest Series A, and takes its total raise to date to over $24 million.
“Airlift’s financing round marks one of the largest capital investments in the region, at a time when the risk of a global recession is at an all-time high. The investment marks a new high for the Pakistani startup ecosystem, highlighting the unique opportunity that is prevalent in the region,” said the startup in a statement.
The round was led by San Francisco-based Quiet Capital with participation of London-based TrueSight Ventures & RT Ventures, Abu Dhabi-based Shorooq Partners, Taiwan-based ACE Capital, and some other local partners. Existing investors including San Francisco-based First Round Capital (that had led Airlift’s Series A), Fatima Gobi Ventures and Indus Valley Capital also joined the round.
Read more on MENA bytes