Oware, a B2B warehouse and distribution firm based in Pakistan, has received $3.3 million in pre-seed funding.
Silicon Valley investors Flexport Fund and Ratio Ventures are among the round’s backers, as are significant international investors Seedstars International Ventures, The Osiris Group, Swiss Founders Fund, Reflect Ventures, +92 Ventures, Walled City Co, and other strategic angel investors.
Oware, co-founded in June 2021 by Raza Kazmi and Adil Nisar, respectively, Maersk and Careem alumni, empowers businesses to flourish through flexible warehousing and intelligent distribution, providing flexible response to demand variations as well as faster and more inexpensive delivery of goods.
Through its networked fulfilment centres and third-party logistics providers, Oware provides businesses with scalable and tech-driven warehousing and distribution for B2B and retail.
Companies can easily launch operations in new places to serve more customers, free of the operationally demanding and sophisticated logistical planning and capital investment that stifles business expansion.
There is a great possibility in the B2B flow of commodities across the region, but it remains vastly underserved, according to Raza Kazmi, co-founder of Oware.
Local firms are locked in an archaic and opaque environment, coping with out-of-date supply chain systems that are slow, constrained, and capital intensive.
We’re on a quest to fix the time it takes to set up operations, the lack of visibility or tracking of orders, and the inefficiency of process execution in terms of speed and cost.
Pakistan’s logistics business has a $35 billion+ market opportunity and employs roughly 6% of the country’s workforce. Overspending on warehousing and inventory due to a lack of warehouse flexibility and insight results in expensive and late deliveries with poor visibility into operations.
Because of the market’s hyper fragmentation, these inefficiencies occur, resulting in a time-consuming and obsolete process.
Furthermore, the fulfilment and distribution business has been under great strain as a result of changing customer expectations and service needs, which Oware wants to address.
Oware continues to gain traction and expand its customer base, working with a diverse range of businesses including start-ups, manufacturers, merchants, and retailers.
They’re using Oware to keep goods close to their consumers at a low cost, as well as pick, pack, and ship from a single platform.
They also get real-time visibility into stock levels and order statuses, as well as network visibility.
To read our blog on “Tiger Global and Zayn invest $2.1 million in Pakistani B2B supply platform” click here
