Bykea, famous for its bike-sharing and on-demand delivery services, announced the limited launch of its Bykea Car service in Islamabad and Karachi.
Tell me more: In a somewhat vague social media post, Bykea revealed that they are going from two wheels to four.
It sounds much better in Urdu. “Hum ho gaye hain 2 se 4 🚙”
The social media post is the only announcement by Bykea in what appears to be an effort to create pre-launch buzz.
There’s also no information about Bykea Car on the Bykea website – at least not yet.
Okay, but why: The lack of public transportation options in Pakistan has given rise to ride-sharing services.
Riders now have more options and can make choices based on convenience and price with apps like Careem, InDriver, and now, Bykea Car.
Also, Bykea and Careem are battling it out to be Pakistan’s favorite super app.
And now, Bykea can add car-sharing to its arsenal along with bike-sharing, rickshaws, delivery (food and e-commerce), grocery (q-commerce), and B2B payment services.
You should know: Bykea was founded in 2016 by Muneeb Muneeb Maayr.
In June of this year, it raised $10 million in funding from existing investors Prosus Ventures, Middle East Venture Partners, Sarmayacar, Tharros, and Ithaca Capital.
To date, it has raised $29 million in disclosed funding.
Zoom out: Bykea survived the pandemic with its capital-efficient structure and positive unit economics.
Now it will test out its brand prowess against the likes of Careem in what can only be described as a bold and ambitious move.