News, Startups

Karachi-based startup Munchies raises $2.5 million in Pakistan’s largest early stage funding

Written by Usman Aslam ·  43 sec read >

In recent news, a Karachi-based delivery startup called Munchies has raised up to $2.5 million from strategic investors including from leading companies such as Unilever and VentureDrive. This is said to be the third-largest pre-seed investment in Pakistan’s history.

As of now, Munchies is currently catering to the snacking ecosystem and hence positioning itself as a ‘one-stop solution for impulsive buying’. Through the respective funding, the startup plans to establish dark stores which is basically a retail distribution center that caters exclusively to online shopping. However, the startup is focused on acquiring customers in Karachi presently.

According to one of the co-founders, Fazil:
“We are growing at a tremendous pace — and hitting an easy 40% month-on-month increase in daily orders and even higher for gross merchandise value.”

Moreover, in regards to rival companies such as Airlift, Fazil mentioned the following:
“Competition is heating up. The customer acquisition cost is going to go up for all companies, not just us. But we’re focused on being hyper-local, and getting retailers on board. We’re also adding our own dark stores — this hybrid approach should position us well.”

In addition, the CEO of Unilever Pakistan added that partnering with VentureDive will enable Munchies to benefit from a technological standpoint.

Written by Usman Aslam
A tech enthusiast, writer, researcher and strategist working on the latest technologies and making an impact. Usman has been heavily focused on building communities, empowering people through technological trends and advancements for over 3+ years including many notable names such as IEEE Region 10, TEDx, Google Developers, United Nations Programmes, Microsoft Partner Program and much more. Reach out: Profile