GrocerApp, a Lahore-based grocery delivery startup announced in a statement that it has raised US$1 million in a seed round. The round of funding is reported to have been led by Dubai based internet investment group, Jabbar Internet Group. This deal is Jabbar’s first in Pakistan comes immediately after a sale of one of its portfolio companies, InstaShop.
Other participating investors in the round include former Souq/Amazon MENA executive Asif Keshodia who as part of the deal will join the GrocerApp’s board. ), Saudi-based Nama Ventures, Jordan’s Nader Group, Pakistan-focused VC Karavan, and a local software company 7Vals. Existing investors who reinvested include Pakistan-based Walled City Co, LeanBricks, and Shehryar Ali of Treet Pakistan.
Started by Ahmed Saeed, Hassaan Sadiq, and Bilal Zafar in 2016 GrocerApp an online platform that enables users to order groceries through its web and mobile apps and have them delivered to their doorstep on the same day. Perishable items like fruits, vegetables, and meat can also be ordered on the app.
Samih Toukan co-founder of Jabbar commenting on the investment said, ““We see great potential in Pakistan for technology businesses. To seize the opportunity, we have made our first investment in Pakistan in GrocerApp because of our confidence in the business and resilience of the cofounders. We are determined to see GrocerApp grow even further, now that the Pakistani market is ripe for a digital revolution.”
CEO and co-founder of Jabber aslo Ahmed Saeed said,” ”GrocerApp is equipped with sophisticated technology, smart fulfillment centers and efficient logistics network that makes it the leading e-grocer in Pakistan.”
“Our success in this round is twofold. Asif, Hussam, and Samih have shown confidence in GrocerApp and decided to back us, which reinforces our position as a promising e-commerce leader. Secondly, the tons of experience these investors bring will usher in a new era of growth for GrocerApp,” he added.