Announcements

Sabzi.pk acquires $7.5 million for seed round funding

Sabzi.pk is an online fruits and vegetables portal which offers delivery service for household consumers and corporate customers. The startup housed at LUMS Center for Entrepreneurship (LCE) has just publicized that it has closed its seed financing from the owners of a huge Pakistani retail corporation. Sabzi.pk secures the seed funding at $7.5 million valuation which is the highest value raised for seed round funding by an LCE company.

The brain behind Sabzi.pk, Farooq Haider, hails from Gujranwala who is young and a passionate entrepreneur. The service is currently available in Lahore only since the startup is based in the very city. Apart from delivering fruits and vegetables to the households, the company has also started to deliver to hotels and restaurants in Lahore.

To ensure quality of the highest level, Sabzi.pk delivers the goods to its customers at reasonable prices. Moreover, the team constantly put a lot of efforts to make sure that the fruits and vegetables that are handpicked are of the highest quality.

Statements from Sabzi.pk and LUMS Center for Entrepreneurship

Founder and the Chief Executive Offier (CEO) of Sabzi.pk, Farooq Haider, said the capital will be used to build HR, marketing the brand and to modernize the supply chain. While commenting on the funding, he stated:

“We had multiple offers for the six figures seed capital investment we were seeking but decided to go with the investors we thought most complemented our business from a strategic standpoint. The capital will primarily be used to build HR capacity, streamline our supply chain and customer relationship operations and marketing the Sabzi.pk brand”

There has been significant demand for the startup to be launched in various cities of Pakistan. Farooq Haider said that the company is already planning to expand its operations in the major cities of Pakistan to fulfill the massive demand from both consumers and corporate customers. He further added:

“I want to turn Sabzi.pk into a national brand and trading platform that doesn’t only benefit our customers but also improves the lives and livelihoods of Pakistani farmers as we increase direct-from-farm procurement and reduce or eliminate their dependence on multiple intermediaries”

Executive Director of LUMS Center for Entrepreneurship, Khurram Zafar, acknowledged the efforts of Farooq Haider and showered praise for his zeal and passion. He said that:

“Farooq’s passion for his start-up, the work ethic he instilled in Sabzi.pk’s team, constant drive to make the business better and accumulate happy customers, are all key ingredients for business success. I am happy that local, Pakistani investors are beginning to value the importance of good founders and growth potential of new startups. Farooq has made us all proud and we wish his venture success”

Sabzi.pk is based in Lahore. You can have a crack at their website here.

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