Oware Technologies Celebrates One Year of Growth

Pakistan’s startup ecosystem showed remarkable growth when it recorded around $350 million in venture capital funding in 2021. Things got off to a healthy start in 2022 with Q1 funding at $143 million. The situation was looking promising for the rest of the year until an unprecedented global economic crisis forced its most valuable startup Airlift to shut down. While this situation sent shockwaves of panic across the local startup scene, encouraging news has come from Karachi as Oware Technologies marks its first year with positive growth. Founded by Raza Kazmi and Adil Nisar, Oware is a logistics tech startup that aims to revolutionize Pakistan’s supply chain and logistics industry. Its integrated solutions & services enable smart warehousing, intelligent distribution, and fulfillment with transparency that help businesses achieve better logistics flexibility and minimize capital costs. Established last year in June 2021, Oware began by renting a single 4,500-square feet warehouse in Karachi. After their services were received well in the commercial capital of Pakistan, they expanded to Lahore, Islamabad, and Multan. In doing so, they have created a network of warehouses in strategic locations across Pakistan with further expansions in the pipeline. Earlier in April, Oware secured $3.3 million in pre-seed funding from global investors. Today, its team of over 300 professionals is working to offer a whole suite of smart logistics solutions & services consisting of: Pakistan’s B2B logistics industry is crippled with outdated systems that are hindering growth for businesses at large. Not only are they struggling to acquire additional warehousing capacity to store inventory, but also facing difficulty monitoring that inventory, which is making way for more complex distribution issues. And while this problem can be countered with modern systems, only large multinationals have access to such sophisticated systems. With Oware, the team wants to level the playing field for Pakistani businesses with a solution that’s cutting-edge, accessible, and affordable. This, they believe, will not only usher in a new era of resilience for Pakistan’s logistics industry but pave the way for the country’s sustainable economic growth. According to Adil Nisar, Scoring remarkable achievements within its first year, Oware has exhibited the potential to be recognized among the key players in Pakistan’s startup scene in the coming times. The company’s leadership plans to use its recent funding to invest in developing its robust product & service portfolio, bolster its innovative capabilities with the right talent, and scale to newer geographies to achieve its vision of simplified yet resilient supply chains across and beyond Pakistan. Celebrating Oware’s first anniversary, Raza Kazmi said, “The current scenario makes us more ambitious and we still plan to pursue the insight, process, and curiosity that keep us inspired and steadfast on our goal of empowering businesses to grow by building the operating software for distribution,” an optimistic Adil Nisar added.