Karachi-based mobility startup, BusCaro, proudly announced a successful pre-seed funding round, securing $1.5 million. The round was led by Orbit Startups, with participation from Wahed Ventures and angel investors.
🚗 Bridging the Gap in Transportation
BusCaro, founded by Maha Shahzad in October 2022, aims to address the challenges of Pakistan’s public transport system and the high costs of taxis, rideshares, and rickshaws. Operating in Karachi, Lahore, and Islamabad, the startup collaborates with over 40,000 minivan and minibus drivers, connecting them with passengers through partnerships with employers and schools.
💡Affordable and Efficient Travel
A typical BusCaro trip costs around Rs150, providing an affordable alternative compared to Rs800 in a rideshare vehicle or Rs1,400 in a cab. The startup’s innovative B2B2C model optimizes vehicle utilization, increasing incomes for operators and drivers while keeping fares affordable.
🌍 Impactful Reduction in Carbon Footprint:
Notably, BusCaro’s operations contribute to reducing the carbon footprint by over 3 million kg annually. The startup’s commitment to safety, reliability, and affordability has resulted in over 20,000 daily bookings.
📈 Path to Profitability and Expansion
With a goal to break into profitability by the first quarter of 2024, BusCaro’s CEO, Maha Shahzad, envisions substantial growth. The target market across the three cities totals up to eight million passengers. The startup’s success has attracted attention from investors, such as William Bao Bean, Managing General Partner at Orbit Startups, who values BusCaro’s sense of purpose and potential for diverse and inclusive shared transport solutions.
🌐 Future Plans and International Expansion
Buoyed by the funding, BusCaro plans to invest in further enhancing its technology stack, introducing new functionality for passengers and partners. The startup has also set its sights on international expansion, aiming to replicate its success beyond Pakistan.
Kudos to BusCaro for navigating challenges and paving the way for a safer, more affordable, and efficient transportation system! 🌐🚗💡
#BusCaro #MobilityInnovation #FundingSuccess #TechRevolution
