Krave Mart, a Karachi-based quick commerce startup delivering groceries, raised $6 million in pre-seed funding round from MSA Capital, ru-NET, Global Founders Capital, Zayn Capital, Saison Capital, 2AM, Mehta Ventures, Jedar Capital, and Lakson Venture Capital.
Elevator Pitch: Grocery delivery in 10 minutes.
Tell me more: Krave Mart uses dark stores to deliver groceries. A dark store is a retail facility like a conventional supermarket but is not open to the public and is only used to fulfill orders placed online.
Quick commerce startups in Pakistan have been operating through a network of dark stores. They earn their income from the difference in purchase and sale price.
You should know: Krave Mart was founded by Kassim Shroff, Hammad Bawany, Haziq Ahmed, and Ahsan Kidwai this year.
It currently has four dark stores in Karachi. The startup believes that the 10-minute delivery model will be a game-changer and will set a bar for all upcoming players in the industry.
Before you go: Krave Mart plans on expanding to 10 more cities across Pakistan by the end of the first quarter of next year. It also wants to set up Sri Lanka, Nepal, and Bangladesh operations.
Its competitors include Airlift Express and Pandamart.