Ride-hailing company inDrive has finalized its acquisition of Krave Mart, a quick-commerce startup based in Pakistan, to enhance its grocery delivery services in South Asia. This move marks inDrive’s strategic entry into the grocery delivery market, challenging established players like Foodpanda.
inDrive, known for its bid-based pricing model, has successfully completed an all-stock deal with Krave Mart, a grocery delivery service operating in Karachi, Rawalpindi, and Lahore. Krave Mart differentiates itself by promising fast grocery deliveries within 30 minutes through a network of dark stores.
The acquisition aligns with inDrive’s broader strategy to diversify its services beyond ride-hailing, particularly focusing on expanding its presence in the grocery delivery sector. By integrating Krave Mart’s operations, inDrive aims to strengthen its position in the market and provide fast and reliable grocery delivery services across Pakistan.
Andries Smit, Chief Growth Businesses Officer at inDrive, emphasized the company’s commitment to enhancing grocery delivery accessibility, following the approval from the Competition Commission of Pakistan. The combined efforts of Krave Mart and inDrive are set to bring convenience to customers, with plans to launch inDrive.Groceries in Lahore while maintaining operations under both brand names in Karachi.
Source: TechCrunch