InDrive Invests Millions for Strategic Stake in Krave Mart

Mobility services platform inDrive claims to have made a strategic investment in Krave Mart, a leading online grocery delivery service in Pakistan, through its New Ventures division. Krave Mart CEO, Kassim Shroff, said, “We are excited to partner with inDrive and the New Venture’s team, and this investment will prove to be a significant milestone for Krave Mart. We are now well-positioned and capitalized with the best-in-class team to grow our business profitably, add new dark stores, expand our private label assortment, and build a robust tech and logistics infrastructure to support our mission of making groceries affordable and accessible to everyone in Pakistan”. The investment is set to fuel Krave Mart’s ambitious growth plans and drive further expansion across key urban markets, positioning it as a major player in the fast-growing e-commerce grocery sector. With this investment, inDrive is continuing to extend its reach into critical services that enhance the quality of life for millions of people. InDrive’s New Ventures unit, led by Andries Smit, has previously invested in micro insurer MIC Global and plans another deal soon. While the exact size of the Krave Mart investment was not disclosed, Smit emphasized that such collaborations are part of inDrive’s long-term vision to evolve into a super app. Founded in 2021, Krave Mart has quickly gained traction in Pakistan by offering rapid grocery delivery through its network of dark stores. The company’s focus on private label products, delivered in under 30 minutes, has set it apart in an increasingly competitive market. This investment from inDrive will enable Krave Mart to enhance its operations and expand its service into new regions. With inDrive’s backing, Krave Mart plans to increase its footprint in Pakistan and explore opportunities for growth in new markets. The investment will allow the company to scale its operations, improve its technology platform, and increase the variety of products offered to consumers. Operating in 46 countries, inDrive was the second-most downloaded ride-hailing app globally in 2023. The company’s unique model allows passengers and drivers to negotiate fares directly.