Airlift

In July 2022, Airlift, Pakistan's leading startup and most-funded company in the country, announced it was permanently shutting down, effectively laying off its entire workforce. The Lahore-based quick-commerce firm, which had raised $85 million at a $275 million valuation just months earlier, failed to secure a new financing round after investors were unable or unwilling to wire funds in a timely manner. Operating in eight Pakistani cities with a 30-minute delivery model for groceries and essentials, the capital-intensive business succumbed to a severe funding crunch, dealing a significant blow to Pakistan's nascent startup ecosystem.

Airlift representing approximately 31% of its workforce on 2022-05-25.