Karachi-based supply chain startup Oware has raised $3.3 million in pre-seed funding. The round includes Silicon Valley investors like Flexport Fund and Ratio Ventures, along with Seedstars International Ventures, The Osiris Group, Swiss Founders Fund, Reflect Ventures, +92 Ventures, Walled City Co, and other strategic angel investors.
Co-founded in June 2021 by Maersk and Careem alumni Raza Kazmi and Adil Nisar, Oware helps businesses with on-demand warehousing, intelligent distribution, and fulfillment. The supply chain startup offers businesses scalable and tech-driven warehousing and distribution for B2B and retail through connected fulfillment centers and third-party logistics providers.
Raza Kazmi, the co-founder at Oware, commented: “There is a huge opportunity in the B2B movement of goods across the region, but it remains immensely underserved.” According to a press statement, Pakistan’s logistics industry represents a $35 billion+ market and accounts for approximately 6% of total employment.
Co-founder Adil Nisar added: “To get to its end destination, a product has to move between several warehouses, fulfillment centers, and trucks. This complex ballet is managed by multiple businesses without interconnected systems. Our vision is to build a large-scale connected world of distribution that enables a faster route to market for our customers.” Oware claims to have grown its network to five cities and is opening additional fulfillment centers to meet demand and increase coverage. The company plans to use the funds to expand to newer geographies, fuel product development, and hire new talent.
“Pakistan has a massive opportunity in logistics presented by the 2 million SMEs and the rise of e-commerce in the region. We believe that Oware has a solid position to be an integral layer to an ecosystem that’s becoming digitally enabled. We are proud to have been Adil’s and Raza’s early backers and thrilled for the journey ahead,” said Charlie Graham-Brown, CIO & Partner at Seedstars.