Pakistan-focused venture capital firm Sarmayacar is investing in local ride-hailing startup Bykea, according to three sources close to the development. The Series A fundraising is expected to be in the region of $5 million and will be a combined investment involving at least three investors.
Founded in 2017, Bykea is a Pakistani ride-hailing and parcel delivery service operating in Karachi, Lahore and Islamabad. The company was previously funded by Ithaca Capital and JS Capital, two investment companies in Pakistan.
