Bykea is actually an on-demand transport and services platform which publicly announced that a $5.7 million Series A has been raised. This startup was initiated in the beginning at National Incubation Center Karachi. This major investment has undergone from Pakistan’s First VC fund Sarmayacar and South East Asia and Middle East.
Bykea App has already boosted the download of over two million people. While on the other hand, partners have around motorbike owners of 200,000 across Karachi, Lahore, Islamabad and Rawalpindi.
Bykea raises $5.7 million in A Series Investment
The Chief Executive Officer of Bykea named Officer Muneeb Maayr said that Bykea is working with providers of telecommunication in order to help enable the feature phones and other not-so-smart phones. This structure is programmed in such a way that it connects with the part-timers of driver patterns. He further said that this investment is going to help Pakistan utilize the technology effectively in order to better promote personal and business activities in the future.
Bykea is an app which comprises of a compact motorbike network that transports not only people but parcels also. They follow this technique to cover additional incomes along with making logistics solutions cost-effective.
Rabeel Warraich, who is Managing Partner of Sarmayacar said that she is pleased to become part of Bykea as this programme is going to generate tens of thousands opportunities. This will start an affordable journey of technology solutions.
Bykea announcement for funding further includes the collaboration of this organization with the world famous telecom company “Jazz”. This will connect customers with the drivers and this opportunity is a dial away. Just dial a mobile number 0307-1234567.
Moreover, this company has started to create jobs for hospitality sector after taking grants from USAID’s Small & Medium Enterprises Development Authority. Mahvash & Jehangir Siddiqui Foundation will also be providing them with short term lending. This will help create the income opportunities for motorbike owner operators.
An investment of this kind will be used for express delivery, ride sharing expansion and other digital use cash conversion. This is both for the businesses established in Pakistan and abroad. Once this company expands the capabilities, it is going to fill the roles in the organization.