Pakistan’s fastest growing omnichannel grocery shopping platform 24SEVEN.pk has secured a six-figure investment from US-based venture capital fund SOSV.
The investment is part of 24SEVEN.pk’s ongoing pre-Series A round that is the first phase of a fundraising initiative taken by startups, locally and internationally.
24SEVEN has also been selected for the 10th cohort of Mobile Only Accelerator, an SOSV programme for consumer technology and mobile-first markets.
The total amount secured by the startups has remained undisclosed but SOSC has said that funds have been paid to the startup.
Jarrar Shah, co-founder and CEO of 24SEVEN.pk, said that the funds will be deployed towards building infrastructure that will help the company grow faster.
The funds will be focused on improving technology stack and supply chain for efficient deliveries as well as towards market expansion and enhancing the platform’s AI capabilities.
Founded in 2016, 24SEVEN.pk is among Pakistan’s rapidly growing grocery shopping platforms, that claims to have served over 30,000 customers and delivered over 150,000 orders.
The platform boasts an offering of over 6,000 products including fresh food delivered the same day to consumers. The company also provides direct linkages with farms to ensure food traceability and multiple payment options.
With over $800 million under management and a cross-border ecosystem of over 1,000 startups, SOSV has backed several notable companies through its accelerator programme MOX.