Ride-hailing giant InDrive has made a strategic investment in Pakistan-based grocery delivery startup Krave Mart, signalling its intent to explore growth opportunities in emerging markets. The development comes as part of InDrive’s venture capital initiative to allocate $100 million to startups in developing regions.
Founded in 2021, Krave Mart operates as an online grocery delivery or a quick commerce platform. It has carved out a niche by fulfilling thousands of orders daily and launching private-label products, ranging from everyday essentials like bread to hygiene items, to improve profit margins. With this funding, Krave Mart plans to strengthen its operations in Pakistan and explore potential expansion into new markets.
Despite the shutting down of competitors like Airlift, Krave Mart has continued operations and is now a significant players in some urban centres competing the likes of Foodpanda (Delivery Hero).
Meanwhile InDrive, headquartered in Mountain View, California, has grown rapidly as a global ride-hailing platform, operating in 46 countries and enabling passengers and drivers to negotiate fares. The app was the second-most downloaded ride-hailing app globally last year, according to data.ai.
The investment in Krave Mart follows InDrive’s earlier partnership with micro insurer MIC Global in June. Andries Smit, head of InDrive’s New Ventures unit, emphasised that the company’s investment arm focuses on opportunities that align with its business model and long-term goals. “This strategy aligns with InDrive’s long-term vision for becoming a super app, and we are optimistic about the potential this offers for the future,” Smit noted.
Krave Mart: A Rising Contender in Pakistan’s E-Commerce Landscape
Krave Mart emerged during a surge in e-commerce activity in Pakistan, fuelled by rising smartphone penetration and shifting consumer preferences toward convenience. Despite challenges in the country’s economic environment, Krave Mart has sustained its growth by catering to urban households with speedy deliveries and an expanding product portfolio.
Its primary competitor, Foodpanda, has long dominated Pakistan’s delivery market. However, Krave Mart’s focus on private-label products and operational efficiency has given it a competitive edge.
