When the startup ecosystem in Pakistan received almost $350 million in venture capital funding in 2021, it demonstrated a phenomenal expansion. With Q1 funding at $143 million, 2022 got off to a strong start. Until an unexpected worldwide economic crisis drove its most valuable company, Airlift, to shut down, the situation was looking brighter for the rest of the year. Oware Technologies has announced optimistic news from Karachi as it completes its first year with positive development, despite the fact that this event sent shockwaves of panic across the local startup sector.
Oware is a logistics tech business founded by Raza Kazmi and Adil Nisar with the mission of revolutionising Pakistan’s supply chain and logistics sector. Its integrated solutions and services enable transparent smart fulfilment, smart distribution, and smart warehousing, helping companies increase their logistical flexibility and save down on capital expenditures.
Getting Off to a Good Start
Oware, which was founded in June of last year, started off by renting a single 4,500 square foot warehouse in Karachi. After receiving favorable feedback in Pakistan’s commercial hub, they expanded to Lahore, Islamabad, and Multan. By doing this, they have established a network of warehouses throughout Pakistan in key locations, with additional expansions planned.
Earlier in April, Oware secured $3.3 million in pre-seed funding from global investors. Today, its team of over 300 professionals is working to offer a whole suite of smart logistics solutions & services consisting of:
- Businesses have the option of renting the necessary space in one of these facilities rather than making the investment in their own warehousing space, thanks to 15 warehouses spread across four major cities (Karachi, Lahore, Multan, and Islamabad) and offering more than 380,000 square feet of rental space.
2) Transportation of items from a warehouse to clients, including merchants and fulfillment centers, in accordance with their orders.
3) Businesses can use simple dashboards that offer real-time visibility into inventory levels and shipments thanks to an integrated cloud-based customer portal. A technology-enabled Internal Ops team monitors warehouse activities in real-time, has total fleet visibility, and offers round-the-clock support to the on-the-ground workforce.
Moving the Sector Forward
The obsolete methods that plague Pakistan’s B2B logistics sector are impeding overall corporate growth. They are having trouble not only finding extra space for warehousing merchandise, but also keeping track of it, which is leading to more complicated distribution problems. Modern systems can help solve this issue, but only major multinational corporations have access to them.
With Oware, the team hopes to provide Pakistani enterprises with a cutting-edge, easily usable, and reasonably priced solution. They think that by doing this, the logistics sector in Pakistan will enter a new era of resilience and pave the path for long-term economic progress.
Before COVID-19 struck, supply chain digitization was well under way, but the pandemic and its associated disruptions have greatly quickened the process. In fact, the Ukraine War has only served to fire the coals of this reality. Crisis-hit firms realised that constructing resilience and agility in their supply chains was a matter of urgency. Businesses will have data-driven visibility with integrated supply chain solutions like ours to help them anticipate interruption and prepare for it.
To realise its vision of streamlined yet resilient supply chains throughout and outside of Pakistan, the company’s leadership intends to use its recent funding to invest in expanding its strong product and service portfolio, bolstering its innovative capabilities with the right talent, and scaling to newer geographies.
