BusCaro, a Karachi, Pakistan-based mobility startup, raised $1.5M in Pre-Seed funding.
The round was led by Orbit Startups with participation from Wahed Ventures and angels investors.
The company intends to use the funds to expand operations and its business reach.
Led by Maha Shahzad, Founder and CEO, BusCaro is a tech-based mobility company aimed at simplifying daily commutes. It is an app-based platform with enhanced safety and reliability features that improve the experience for both commuters and operators. Using a direct partnership B2B2C model, BusCaro is able to match demand with supply, improving vehicle utilisation and thereby increasing operator and driver incomes while keeping costs affordable for end consumers. Features such as driver background checks, vehicle inspections and tracking, on-ground emergency response team and a 24/7 customer support team enable a reliable service for consumers.
Founded in Octopber 2022, the startup has expanded operations across Karachi, Lahore and Islamabad, doing over 20,000 bookings per day, and is on track to become profitable by early 2024. At its current scale, BusCaro is helping reduce carbon footprint by over 3M kg per year.
FinSMEs
23/11/2023