Prime Minister Imran Khan has lauded the Lahore-based online shopping delivery platform Airlift Technologies Pvt. Ltd. for raising $85 million in the country’s largest-ever solo private funding round.
“We welcome the recent investment of 85 million USD by leading VCs of the world in Airlift, a company led by young Pakistanis”, he said, further reaffirming his stance for domestic growth by remarking, “Pakistan has huge potential, and we are open for business. My govt is fully committed to creating opportunities.”
We welcome the recent investment of 85 Million USD by leading VCs of the world in Airlift, a company led by young Pakistanis. Pakistan has huge potential and we are open for business. My govt is fully committed to creating opportunities.
— Imran Khan (@ImranKhanPTI) August 20, 2021
Airlift has set a new precedent for attracting world-class investors to invest in Pakistan. This will garner confidence that great technology and consumer products can be built in Pakistan, and this region of the world has some of the best talents for incubating functional and innovative technology. It is worth mentioning that Airlift Express alone, with its series B funding of $85 Million, has added 5 percent to Pakistan’s FDI for the fiscal year 2021.
This is the largest single private funding round in Pakistan’s history, according to a data tracker from venture capitalist fund Invest2Innovate.
With the newfound investment, Airlift expects to position more offerings to its services in the near term and create almost a quarter-million more jobs in Pakistan within the next five years.