When the startup ecosystem in Pakistan received almost $350 million in venture capital funding in 2021, it demonstrated a phenomenal expansion. With Q1 funding at $143 million, 2022 got off to a strong start. Until an unexpected worldwide economic crisis drove its most valuable company, Airlift, to shut down, the situation was looking brighter for the rest of the year. Oware Technologies has announced optimistic news from Karachi as it completes its first year with positive development, despite the fact that this event sent shockwaves of panic across the local startup sector.
Oware is a logistics tech business founded by Raza Kazmi and Adil Nisar with the mission of revolutionizing Pakistan's supply chain and logistics sector. Its integrated solutions and services enable transparent smart fulfilment, smart distribution, and smart warehousing, helping companies increase their logistical flexibility and save down on capital expenditures.
Getting Off to a Good Start
Oware, which was founded in June of last year, started off by renting a single 4,500 square foot warehouse in Karachi. After receiving favorable feedback in Pakistan's commercial hub, they expanded to Lahore, Islamabad, and Multan. By doing this, they have established a network of warehouses throughout Pakistan in key locations, with additional expansions planned.
Oware received $3.3 million in pre-seed fundraising from international investors earlier in April. Its staff of over 300 specialists is currently hard at work providing a full range of smart logistics solutions and services, including the following:
- Businesses have the option of renting the necessary space in one of these facilities rather than making the investment in their own warehousing space, thanks to 15 warehouses spread across four major cities (Karachi, Lahore, Multan, and Islamabad) and offering more than 380,000 square feet of rental space.
- Transportation of items from a warehouse to clients, including merchants and fulfilment centres, in accordance with their orders.
- Businesses can use simple dashboards that offer real-time visibility into inventory levels and shipments thanks to an integrated cloud-based customer portal. A technology-enabled Internal Ops team monitors warehouse activities in real-time, has total fleet visibility, and offers round-the-clock support to the on-the-ground workforce.
