Airlift Technologies

Airlift Technologies was a Pakistani startup that began its journey in March 2019 as a mass-transit, ride-hailing service. The concept was born out of founder Usman Gul's frustration with traffic congestion in Lahore, his hometown. Gul, who had previously worked as a business analyst at McKinsey & Company and was part of the early team at DoorDash in the US, initially self-funded Airlift with $50,000. He was joined by co-founders Ahmed Ayub and Meher Farrukh. The company launched an app-based platform for booking seats on premium buses and vans with fixed routes, offering a more affordable alternative to other ride-hailing services. This model quickly gained traction, and by August 2019, Airlift had secured $2.2 million in seed funding. Just a few months later, in November 2019, the company raised a significant $12 million in a Series A round. With the onset of the COVID-19 pandemic, Airlift was forced to halt its transit operations. Demonstrating agility, the company pivoted to a quick-commerce model, launching Airlift Express for online grocery and essentials delivery with a promise of 30-minute delivery times. This new direction attracted further investment, including a $10 million Series A extension and a landmark $85 million Series B round in 2021, which valued the company at $275 million. The business operated by using a mobile app where customers could order items that were sourced from Airlift's own warehouses. At its peak, the company had expanded its services to several cities in Pakistan and South Africa. However, facing a challenging global economic climate, downturns in capital markets, and local economic pressures, Airlift ceased all operations on July 13, 2022. Keywords: Airlift Technologies, Usman Gul, quick commerce, q-commerce, grocery delivery, mass transit, ride-hailing, Pakistani startup, Lahore, Karachi, venture capital, Series B, dark stores, logistics platform, last-mile delivery, e-commerce Pakistan, startup shutdown, Ahmed Ayub, Meher Farrukh, venture funding