Okayker, an automotive startup in Pakistan that specialises in auto repair and maintenance, has raised $700,000 in seed capital from a number of reputable institutions.
Okayker, an automotive startup in Pakistan that specialises in auto 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 money will be used to grow Okayker’s operations across Pakistan and introduce the country’s first automotive emergency service through their network of workshops.
The statement stated that, “OkayKer, the leading supplier of on-demand auto maintenance services, pleased to announce that, despite the country’s challenging economic situation, it has raised $700,000 in funding from a group of domestic and foreign investors.”
Okayker recently signed an MoU with Mobil to help combat the pervasive issue of counterfeit goods in the market, and it is currently working on partnerships with lubricant brands. The National Incubation Center began incubating Okayker, a Karachi-based startup, in January 2023. Okayker was founded by Nashit, Hasnain Akber, Asjad Amin, and Anusha Shahid in January 2021.
The Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region’s $90 billion automotive repair and maintenance industry is something the company is on a mission to digitise. Customers who would “otherwise have to waste their hours at the workshop with an impending fear of getting scammed by the technician” are the ones who will benefit from it.
Over 10,000 vehicles have reportedly been repaired by the company in the previous 26 months (starting March 2021 when it became fully operational). In Karachi, it now has a network of 850 workshops and more than 250 vendors.
The statement read, “We believe that supporting workshops and retailers is the only way to offer convenience and high-quality care to these vehicle owners. “As a result, we are developing an end-to-end platform for the $90 billion ecosystem in the MENAP region, which includes a mobile application for scheduling appointments for clients.”