InDrive, the ride-hailing company that lets passengers haggle over fares, is now looking to rewrite the playbook for convenience—and it’s starting with groceries. With a strategic investment in Pakistan’s Krave Mart, the California-based company is diving headfirst into the world of e-commerce.
This move, part of a larger $100 million initiative aimed at emerging markets, is a calculated step toward InDrive’s bold vision of becoming a “super app”—a one-stop digital platform for everything from rides to groceries.
Key Highlights
- InDrive invests in Pakistan’s grocery delivery startup Krave Mart as part of its initiative to support startups in emerging markets.
- The deal aligns with InDrive’s long-term goal of evolving into a “super app.”
- Krave Mart plans to use the investment to expand its operations and strengthen its offerings in Pakistan.
Strategic investment in Pakistan’s Krave Mart
InDrive, the Mountain View-based ride-hailing company, has announced a strategic investment in Krave Mart, a rapidly growing grocery delivery startup in Pakistan. This move is part of InDrive’s broader initiative to invest up to $100 million in startups within emerging markets, a strategy the company began executing last year.
The investment underscores InDrive’s ambition to diversify its portfolio and expand its footprint beyond the ride-hailing industry. InDrive, which operates in 46 countries, is known for allowing passengers and drivers to negotiate fares. With its global expansion and plans for greater diversification, InDrive is positioning itself to eventually become a super app—a one-stop platform for multiple urban services.
Krave Mart plans to expand operations
Founded in 2021, Krave Mart has emerged as a significant player in Pakistan’s fast-evolving online grocery market. The platform, which facilitates quick deliveries of groceries, has carved out a niche by offering private-label products, including everyday essentials like bread, hygiene items, and more, designed to improve profit margins.
Krave Mart has demonstrated resilience despite tough economic conditions in Pakistan, continuing to grow in urban centers where competition with industry giants like Foodpanda is fierce. The company fulfills thousands of orders daily and is now looking to bolster its operations and expand its market reach with this new infusion of capital.
The funding from InDrive will support Krave Mart’s efforts to strengthen its dark store network, enhance its private-label offerings, and invest in technology and logistics infrastructure to drive sustainable growth. “We aim to make groceries more affordable and accessible for everyone in Pakistan,” Krave Mart said celebrating the partnership. The funding allows Krave Mart to increase its footprint in Pakistan and explore growth.
InDrive’s Super App ambitions
The deal with Krave Mart aligns with InDrive’s long-term vision of becoming a super app—a platform that integrates multiple services under one umbrella. According to Andries Smit, head of InDrive’s New Ventures unit, this investment reflects the company’s broader strategy of exploring opportunities that align with its business model and long-term goals. “This strategy aligns with InDrive’s long-term vision for becoming a super app, and we are optimistic about the potential this offers for the future,” Smit told Bloomberg.
He also noted that while the collaboration with Krave Mart is exciting, it will take time to determine the most effective approach to maximize the benefits of this partnership.
InDrive’s rapid growth as a global player has been impressive. The company was recently ranked as the second-most downloaded ride-hailing app worldwide, a position it held for the second consecutive year in 2023, according to data from analytics firm data.ai. InDrive was also the most downloaded ride-hailing app in 13 countries, including key markets like Pakistan, Colombia, Egypt, Peru, and Morocco.
