Oware, a Pakistan-based B2B warehousing and distribution startup, has raised $3.3 million in pre-seed funding.
The round is backed by Silicon Valley investors including Flexport Fund and Ratio Ventures, along with strong global investors Seedstars International Ventures, The Osiris Group, Swiss Founders Fund, Reflect Ventures, +92 Ventures, Walled City Co, and other strategic angel investors.
Co-founded in June 2021 by Maersk and Careem alumni Raza Kazmi and Adil Nisar, respectively, Oware empowers companies to grow through flexible warehousing and intelligent distribution, ensuring flexible response to demand fluctuations and faster and more affordable delivery of goods.
Oware offers businesses scalable and tech-driven warehousing and distribution for B2B and retail through its connected fulfillment centers and third-party logistics providers. Companies can quickly start operations from more locations to reach more customers, unhindered by operationally intense and complex logistics planning and capital investment restricting business growth.
Raza Kazmi, co-founder at Oware, commented,
There is a huge opportunity in the B2B movement of goods across the region, but it remains immensely underserved. Local businesses remain trapped in an archaic and opaque environment dealing with antiquated supply chain systems that are no longer fit for purpose and remain slow, limited, and capital intensive. The time to set up operations is too long, there is limited visibility or tracking of orders and the execution of processes is inefficient in terms of speed and cost, which we are on a mission to solve.
Pakistan’s logistics industry represents a $35 billion+ market opportunity and provides approximately 6 percent of total employment. Lack of warehouse flexibility and insights leads to overspending on warehousing and inventory, which results in expensive and late deliveries with poor visibility into operations. These inefficiencies exist due to hyper fragmentation in the market, resulting in a painful and outdated process. Further, the shift in customer expectations and service requirements has caused immense pressure on the fulfillment and distribution industry, which Oware aims to tackle.
Oware continues to build momentum and is growing its customer base working with a healthy mix of start-ups, manufacturers, traders, and retailers. They are using Oware to affordably store inventory close to their customers, along with picking, packing, and shipping to give them a one platform solution. They also get real-time visibility on stock levels and order statuses with visibility into the entire network.