Trax, a startup that provides logistics services for the eCommerce industry in Pakistan, has raised $3.7 million in seed funding. The funding round included participation from Amaana Capital, Tricap Investments, PNO Ventures, and several angel investors. Trax plans to use the funds to expand its offerings in fintech and other technology areas.
The company, which was founded in 2017 and focuses on the eCommerce sector, claims to make one million deliveries per month and employs around 2,000 people. Pakistani eCommerce startups raised a total of approximately $190.27 million in 2022, while fintech startups and logistics startups received $100 million and $28.1 million respectively.
Trukkr and Maqsad, two other Pakistani startups, also recently announced funding rounds. The total disclosed funding raised in March has already reached $12.9 million.
