Delivery startup Krave Mart raised Pakistan’s third-largest funding round for the year, saying the proceeds will help it reach profitability next year.
The Karachi-based company raised the $6.25 million round over the past year, Chief Executive Officer Kassim Shroff said in an interview. Investors participating included Y Combinator, football manager and former player Keisuke Honda, Zayn Capital,JAM Fund, Rebel Fund, Decart Ventures and Conjunction Capital.
The development comes at a time when funding in Pakistan’s startup scene has dried up owing to high-interest rates and uncertainty due to the global economic outlook.
