AUGAF
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
PSX
Currencies
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
AUGAF
No Result
View All Result
Home Business

BridgeLinx Raises $10 Million in Biggest Pakistan Seed Funding: Bloomberg

admin-augaf by admin-augaf
September 14, 2021
in Business, Finance, International
Reading Time: 2 mins read
0
Company seeks to consolidate the nation’s trucking industry

Company seeks to consolidate the nation’s trucking industry

Share on FacebookShare on TwitterWhatsapp

Bloomberg September 14 2021: BridgeLinx Technologies, a digital marketplace for freight cargo, has raised $10 million in Pakistan’s largest seed capital investment after starting operations about nine months ago with the goal of consolidating the nation’s fragmented trucking and logistics industry. 


The Lahore-based company’s funding round is being led by Harry Stebbingsfrom 20VC, Josh Buckley from Buckley Ventures Ltd. and Indus Valley Capital. Stebbings and Buckley last month led a record $85 million round for Pakistan’s quick-delivery startup, Airlift.
Most goods in Pakistan, the world’s fifth most populous nation, are carried by trucks and not trains. The industry is fragmented and most large companies end up dealing with as many as 40 transport vendors, said Salman Gul, co-founder and chief executive officer at BridgeLinx. The startup seeks to consolidate the marketplace by connecting large manufacturers with trucks. Already, more than a fifth of Pakistan’s top 100 exporters use the service.


A L S O || R E A D

Chinese CEOs lauded investors’ friendly policies of PTI Government



The funding comes as the South Asian nation is seeing record investment in its startup industry with multiple venture capitalists investing for the first time. Pakistan’s startups have raised over $233 million, so far this year. That’s more than the previous six years combined, according to data from venture capital fund, Invest2Innovate.


BridgeLinx has added thousands of truck companies and offers lower fares through bidding between truckers for business and moving thousands of freight loads each week, said Gul.


“It’s a massive market and we have just scratched the surface,” he said. “Initially, we were pulling people on the platform, now they just want to jump on.”


BridgeLinx’s other investors include Wavemaker Partners LLC, Soma Capital Management LLC, Quiet Capital Management LP and TrueSight Ventures Ltd.


Related Posts

Pakistan PVC Start Revival Plan Once Properties Cleared From Cases: PSX

Hum Network CEO Showed Intention To Acquire 24.3 Percent Stake In the Company: PSX

Maple Leaf Cement To Install Solar Plant For Energy Requirements

PSX To Suspend Trading in Ghani Automobile Industries From September 21


Tags: BUSINESSfinance
admin-augaf

admin-augaf

Related Posts

imf
Business

IMF Give $15.6 Billion Lifeline To Ukraine

March 22, 2023
dll
Business

Dawood Lawrencepur To Sale Reon Energy To Juniper International

March 22, 2023
ER
Business

9 Died, 44 Injured In 6.7 Magnitude Earthquake Hit Pakistan

March 22, 2023

Recent News

imf

IMF Give $15.6 Billion Lifeline To Ukraine

March 22, 2023
dll

Dawood Lawrencepur To Sale Reon Energy To Juniper International

March 22, 2023
ER

9 Died, 44 Injured In 6.7 Magnitude Earthquake Hit Pakistan

March 22, 2023
Sri Lanka’s President Calls On China And Other Creditors To Compromise – FT

Sri Lanka’s President Calls On China And Other Creditors To Compromise – FT

March 22, 2023
TPL Trakker to form foreign entity for holding mapping segment post spin off

FBR Directed TPL Trakker To Install Tracking Devices On Containers At Custom Stations

March 22, 2023

Popular News

  • Central Directorate of National Savings

    President Prohibit National Savings For Changing Rates on Existing Certificates Retrospectively

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Appreciate against Dollar in Interbank as IMF Confirmed Board Review Date

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall After 13 Days of Successive Gains against Dollar on Lower Remittances and Strengthening of US Dollar

    0 shares
    Share 0 Tweet 0
  • Pakistan Central Bank Issued Show Cause Notice to Eight Banks Over Currency Speculation

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall for the Straight Second Day Against Dollar on Opening of LCs

    0 shares
    Share 0 Tweet 0

Categories

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology
AUGAF Logo

Follow us on social media:

Recent News

  • IMF Give $15.6 Billion Lifeline To Ukraine
  • Dawood Lawrencepur To Sale Reon Energy To Juniper International
  • 9 Died, 44 Injured In 6.7 Magnitude Earthquake Hit Pakistan

Category

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology

Recent News

imf

IMF Give $15.6 Billion Lifeline To Ukraine

March 22, 2023
dll

Dawood Lawrencepur To Sale Reon Energy To Juniper International

March 22, 2023
  • Home
  • Politics
  • News
  • Business
  • National
  • Finance
  • Technology
  • International

© 2021 AUGAF.

No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • Commodities
  • Contact

© 2021 AUGAF.