Okayker, a Karachi-based auto tech startup, has secured $700k in seed funding from investors including Orbit Startups, Cur8 Capital, FRIM Ventures, Sabr Capital, and other undisclosed investors.
The startup aims to further enhance its platform, and expand its operations to other cities by utilizing this seed funding.
The startup is focused on addressing the challenges faced by small workshops and auto part retailers in the MENAP region, which currently lack access to customers and the necessary digital tools to succeed in the modern era.
In the MENAP region, there are more than 500,000 small workshops and auto part retailers run by skilled technicians. Unfortunately, these businesses struggle with low utilization rates and face difficulties in connecting with customers.
Consequently, the region’s 150 million vehicle owners spend an average of 40 hours annually searching for mechanics, electricians, and spare parts while relying on the workshop’s words regarding repairs and maintenance.
To overcome these challenges, Okayker is building a comprehensive end-to-end platform catering to the $90 billion ecosystem in the MENAP region.
The platform includes a mobile application that enables customers to conveniently schedule appointments, alongside OkayCore, an end-to-end ERP solution for workshops.
Through OkayCore, workshops can efficiently record transactions, attract new customers, source spare parts, and access crucial business tools such as payment gateways and financial services.
The startup claims to have successfully resolved over 27,500 car issues, fixed more than 10,000 cars and provided services to over 7,500 car owners. Okayker also claims to have helped workshops with increasing their utilization.
The startup was founded in January 2021 by Nashit Iqbal, Hasnain Akber, and Asjad Amin, and was later joined by Anusha Shahid.
Additionally, the startup claims to have onboarded more than 250 vendors, supplying over 30,000 SKUs across Karachi and serving a network of 850 workshops located in various pockets of the city.
Okayker also claims to have identified three key challenges faced by existing roadside workshops: low utilization rates of 20 % on weekdays and 70 % on weekends, logistical complexities in procuring parts directly from the central market, and the absence of digital systems to record transactions and customer details.
By addressing these challenges and providing workshops with a comprehensive digital platform, Okayker aims to bring convenience and high-quality care to vehicle owners across the MENAP region.
