Krave Mart, a Pakistani rapid delivery startup, has raised $6 million in seed capital, the country’s largest.
To keep ahead of the competition, Krave Market is entering the market with a 10-minute delivery guarantee.
By the end of the first quarter of next year, the company hopes to expand to around ten more cities in Pakistan, having started with Karachi. Sri Lanka, Nepal, and Bangladesh are also on the list of countries where it wants to expand, with an intends to expand into other categories such as fashion, beauty, and technology.
“We are where India was ten years ago,” Kasim remarked in an interview. Because the ecosystem favors us, it will only take us 2-3 years to catch up,” he says, pointing to the country’s young population, mobile users, and financing frenzy. “We had the impression that there was a lot of room.”
Krave made its commercial debut this month and already has four dark storefronts in Karachi. As it pursues unicorn status, the business wants to open 20 more dark stores in the next month, expanding its footprint across several regions locally before expanding to South Asian countries such as Sri Lanka, Nepal, and Bangladesh.
In such a market, how does Krave intend to compete? Kasim Shroff, the company’s co-founder, and CEO believes that the Krave team, which includes employees from Foodpanda, Cheetay, Careem, and Swvl, understands the space and logistical operations, giving them an advantage over competitors.
It is the crew that will assist them in quickly establishing the dark store’s infrastructure and ensuring more delivery orders. The firm claims to have had remarkable growth but refuses to reveal the number of delivery orders it has received.
“We want to give individuals back part of the time they would otherwise spend traveling to the grocery shop in their neighborhood.” “We’ll accomplish this by ensuring a 10-minute delivery of high-quality products,” Shroff explained.
According to Haziq Ahmed, co-founder, and COO, Pakistan has the potential for over 500 dark businesses in high-density locations. “We want to establish a long-term business model that starts with groceries and expands to include fashion, cosmetics, electronics, and other categories that are highly personalized for each location and user.” The 10-minute delivery strategy is going to be a game-changer for this market, and it will set the bar for all future Q-Commerce competitors.”
Image Source: Krave Mart
