Venture Capital: BusCaro Raises $1.5M To Improve The Daily Commute For Pakistanis

November 27, 2023 | News, Venture Capital

“Diversity and inclusion are tough to achieve when women have to spend north of 30% of their salary on getting to work in a safe and predictable way.” – William Bao Bean, Managing General Partner, Orbit Startups

Karachi-based mobility startup BusCaro has successfully secured $1.5 million in a pre-seed funding round led by Orbit Startups, with participation from Wahed Ventures and prominent angels in the mobility sector. The funding aims to address the challenges faced by millions of Pakistanis in their daily commutes, particularly in the country’s three largest cities, where over 40,000 under-utilized minivans and buses, owned by private operators, contribute to an unreliable and unaffordable commuting experience.

Founded in October 2022 by CEO Maha Shahzad (pictured), BusCaro operates as an app-based platform, offering enhanced safety and reliability features for both commuters and operators. The B2B2C model facilitates direct partnerships, optimizing demand and supply matching, improving vehicle utilization, and increasing incomes for operators and drivers. Notable features include driver background checks, vehicle inspections, on-ground emergency response teams, and 24/7 customer support.  (Yahoo Finance)

Having expanded operations in Karachi, Lahore, and Islamabad, BusCaro currently records over 20,000 daily bookings. With a goal to achieve profitability by early 2024, the startup is making a significant impact by reducing the carbon footprint by over 3 million kg per year.

The company’s focus on providing a safe, secure, and reliable means of transport aligns with its mission to address challenges in mass commuting, particularly impacting women who face limited safe and affordable options.

According to Shahzad, a safe and affordable commute is a basic human right.

Investors, such as Orbit Startups, share in the vision, recognizing the role BusCaro plays in enabling individuals to book safe, inexpensive, and efficient shared transport, thereby driving opportunities and contributing to the overall economy.

Related Story:  Oraan, Pakistan’s First Women-Led, Women-First Fintech Startup, Raises $3M

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