KARACHI: Bykea, the ride-hailing app developed completely in Pakistan, has completed its first round of investment and bagged $5.7 million. Venture capital fund Sarmayacar and institutional investors from Vietnam, Singapore and the Middle East invested in the local transport platform, said Bykea Founder and CEO Muneeb Maayr at a press conference at the National Incubation Centre (NIC) Karachi on Tuesday. He informed the media that Pakistan had 17 million bikes on roads, including 3 million in Karachi alone. “The country has four to five million cars and less than one million people use ride-hailing services,” he revealed. “If a person uses…
