Pakistan-based logistics startup Trax secures $3.7 million in seed funding

Trax, a Pakistani logistics startup focused on building logistics for the digital economy, on Friday raised $3.7 million in a seed funding round co-led by US-based Amaana Capital and UAE-based Tricap Investments.

The round was joined by angel investors, including the CEO of Walmart-backed fintech One, Omer Ismail, and Silicon Valley tech entrepreneur JahanzebSherwani.

“We have built Trax with hard work and passion while funding ourselves because of our strong belief in the model. This funding will allow us to accelerate our journey as we continue to solve problems for the e-commerce & logistics industry through our tech solutions,” said Hassan Khan, founder and CEO of Trax.

The funding will be used to expand Trax’s logistics operations with new tech-based business solutions for customers, the company said. Trax has built the third-largest delivery network in Pakistan with access to 95% of the population, served through over 100 warehouses, hubs, and retail centers nationwide, according to the company.

“We are impressed with Trax’s innovative approach to logistics and their commitment to providing high-quality solutions to their customers. Trax has an exceptional leadership team and a proven track record of delivering scale,” said Tricap Investments partner, SulemanSoorani.

Aziz Hashim, managing partner at Amaana Capital, and other investors also expressed their confidence that the company will continue to expand its operations and become a leading logistics player in Pakistan.

About Trax

Trax has been instrumental in facilitating the growth of e-commerce in Pakistan since its launch in mid-2017 by introducing innovative logistics solutions and disrupting the extended payment cycles of legacy players.

The company pioneered a by-road fast-transit line haul system for e-commerce, improving lead times while reducing client costs. Trax works with over 7,000 e-commerce merchants and also has clients in the banking, pharmaceuticals, FMCG, and manufacturing industries.

Pakistani startups have raised $15.2 million since January this year as compared to around $350 million raised in 2022. With the latest funding round, the amount disclosed by Pakistani startups has increased to $15.2 million in 2023.

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