Global mobility platform inDrive has acquired a majority stake in Krave, an online grocery delivery platform operating in Pakistan. The deal was later authorized by the Competition Commission of Pakistan (CCP) after a regulatory review under the Competition Act, 2010.
According to the regulator, Suol Innovations Limited, a Cyprus-incorporated company that is part of the inDrive Group, acquired majority shares in Krave through call option agreements with multiple shareholders. The transaction was completed before obtaining regulatory approval and was therefore reviewed by the CCP under the ex-post merger authorization framework.
Suol Innovations operates under inDrive Holding Inc., a US-registered global technology company offering ride-hailing, intercity transport, courier delivery, and other mobility services. In Pakistan, the group operates through its subsidiary Sobo Tech (SMC-Private) Limited, providing mobility and courier services under the inDrive brand.
The acquired company, Krave Technologies Pte. Ltd., is incorporated in Singapore and serves as the holding company of Krave Technologies (Private) Limited, which runs Krave Mart, an online platform offering groceries and household essentials through e-commerce delivery services in Karachi.
During its Phase-I competition assessment, the CCP defined the relevant market as the business-to-consumer (B2C) e-commerce grocery delivery platform in Karachi. The Commission noted that inDrive primarily operates in mobility and logistics services, while Krave focuses on online grocery e-commerce, making the transaction a conglomerate merger between companies in different sectors.
After reviewing the market structure and available data, the CCP concluded that the deal does not involve direct competition between the two companies and is unlikely to create market dominance or reduce competition in the relevant sector.
The Commission also observed that the acquisition was finalized before obtaining mandatory regulatory clearance and directed the parties to ensure strict compliance with merger regulations in future transactions.
Officials believe the investment could support the growth of Pakistan’s digital commerce and delivery ecosystem, improving logistics integration and enhancing convenience for consumers.
