Global ride-hailing platform inDrive has strategically invested in Pakistan’s leading grocery delivery startup, Krave Mart, as part of its vision to expand into emerging markets. This move aligns with inDrive’s broader strategy of transforming into a super app while enhancing access to essential services worldwide.
inDrive’s Investment Focus
Headquartered in Mountain View, California, inDrive established a venture capital arm in 2023 to invest up to $100 million in startups across developing regions. This initiative aims to back companies that complement inDrive’s operations and long-term vision.
Earlier this year, the investment arm partnered with MIC Global, a micro-insurer, and has another deal underway, according to Andries Smit, head of inDrive’s New Ventures unit. “Krave Mart exemplifies the type of company we support—those revolutionizing essential services in emerging markets,” Smit commented.
The financial terms of the deal remain undisclosed, but the funding is poised to propel Krave Mart’s expansion within Pakistan and into new markets.
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About inDrive and Krave Mart
Operating in 46 countries, inDrive offers a unique fare-negotiation model between passengers and drivers. In 2023, it became the world’s second-most downloaded ride-hailing app, according to data.ai.
Founded in 2021, Krave Mart has quickly established itself as a leader in Pakistan’s e-commerce grocery sector, processing thousands of daily orders. Competing with Foodpanda by Delivery Hero SE, Krave Mart has introduced hundreds of private-label products—from bread to handwash—to boost profit margins.
The startup leverages dark store networks to ensure rapid delivery, setting a benchmark with its promise of deliveries in under 30 minutes.
Leadership and Vision
Kassim Shroff, CEO of Krave Mart, expressed optimism about the partnership, stating:
“This investment marks a significant milestone for Krave Mart. It empowers us to scale operations, add new dark stores, and enhance our private-label assortment, all while building robust tech and logistics infrastructure.”
Similarly, Ahsan Kidwai, CCO of Krave Mart, emphasized the value of this collaboration in boosting customer offerings:
“With inDrive’s support, we aim to amplify our presence, expand our product range, and offer the best pricing to customers.”
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Strategic Alignment and Future Growth
The investment allows Krave Mart to enhance its operations and position itself as a key player in the grocery delivery industry. Faisal Aftab, CEO of Zayn VC, lauded Krave Mart’s execution and noted its potential to redefine the market.
From expanding dark store networks to improving logistics, inDrive’s backing ensures that Krave Mart is well-equipped to meet growing demand while maintaining affordability and accessibility for consumers.
A Shared Vision
“This collaboration aligns with inDrive’s vision of becoming a super app,” Smit explained. “We are optimistic about the potential this partnership holds for the future.”
With this strategic investment, inDrive and Krave Mart are poised to transform the grocery delivery landscape in Pakistan and beyond. By combining technological innovation with strategic expansion, they are redefining how consumers access essential goods in emerging markets.
