Okayker, an automotive startup in Pakistan that specialises in vehicle repair and maintenance, has raised $700,000 in seed capital from a number of reputable institutions, including Orbit Startups, Cur8 Capital, FRIM Ventures, and Sabr Capital.
According to a statement released by the automotive startup on Thursday, the funds will be used to expand Okayker’s operations throughout Pakistan and launch the nation’s first automotive emergency service through their network of workshops.
OkayKer, the leading provider of on-demand auto maintenance services, announced that it has secured $700,000 in funding from a group of domestic and international investors, despite the country’s challenging economic situation.
In January of 2023, the National Incubation Centre began incubating Okayker, a Karachi-based startup, which was founded by Nashit, Hasnain Akber, Asjad Amin, and Anusha Shahid in January 2021.
The company’s mission is to digitise the $90 billion automotive repair and maintenance industry in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region. Customers who would “otherwise have to waste their time at the workshop in fear of being swindled by the technician” will benefit from this innovation.
The company reportedly repaired over 10,000 vehicles in the previous 26 months (beginning in March 2021, when it became fully operational). It now has a network of 850 enterprises and over 250 vendors in Karachi.
The statement stated, “We believe that supporting workshops and retailers is the only way to offer convenience and high-quality care to these vehicle owners.”Consequently, we are constructing an end-to-end platform for the $90 billion MENAP ecosystem, which includes a mobile application for scheduling client appointments.”