Mobile Telecommunication Company of Iran (MCI) has invested 200 billion rials ($1.9 million) in cargo transportation startup Ubaar and Achareh that offer repair and home services in return for a 21% share in the two firms.
The two startups are backed by technology firm 'Sanagostar', offering on-demand services in various fields from cargo transportat to automotive services. The two have already gained traction with Iranian users, news website Shanbepress reported.
According to MCI board member Abbas Khani, the mobile operator picked the two startups for investment after a year-long study of their platforms and business models.
Khani adds, “With MCI support the two startups will be able to expand their teams and grab a bigger share of the respective markets.” MCI expects the two startups to grow significantly in the coming years, he added.
“In case the two startups produce the desired results, MCI will increase its investmetn. Another 70 billion rials [$690,000] will be given to Sanagostar when its Key Performance Indicator [KPI] reaches the target set by MCI.”
KPIs evaluate the success of a business via a series of factors including customer satisfaction, profitability, quality, and availability, Khani said without elaboration.
Introduced in 2016, Achareh is an online platform providing users housekeeping and repair services. In addition to its website, Achareh.ir, the startup offers services through Android and iOS applications available for download on local app markets Cafe Bazaar and Sibapp.
In addition to housecleaning services, the startup offers home appliance repairs, interior decoration, moving cargo and even some hair and beauty services. The startup is currently active in Tehran and several other cities.
The other startup powered by Sanagostar is Ubaar, which started providing Internet-based services in the field of cargo transport in September 2017.
It operates through a website under the address Ubaar.ir, and has an application for Android and iOS devises available for download on local app markets.
