IFC invests in PickMe to improve Sri Lanka’s transportation links

The International Finance Corporation (IFC) is investing $2.5m in Sri Lanka-based ride-hailing company PickMe, whose taxi app allows users to request auto rickshaws and luxury cars. Amena Arif, IFC country manager for Sri Lanka and Maldives, says the country has the potential for a digital start-up ecosystem but has been held back by a lack of global funding. IFC says only 5% of start-ups get cash-for-equity seed funding to raise their first significant round of venture capital. IFC’s venture cap
June 19, 2018 Read time: 1 min
The International Finance Corporation (IFC) is investing $2.5m in Sri Lanka-based ride-hailing company PickMe, whose taxi app allows users to request auto rickshaws and luxury cars.


Amena Arif, IFC country manager for Sri Lanka and Maldives, says the country has the potential for a digital start-up ecosystem but has been held back by a lack of global funding.

IFC says only 5% of start-ups get cash-for-equity seed funding to raise their first significant round of venture capital.

IFC’s venture capital group invests in growing companies that offer technologies or disruptive business models focused on emerging markets.

Urban Traffic Control

Related Content

  • Why integrated traffic management needs a cohesive approach
    April 10, 2012
    Traffic control is increasingly being viewed as one essential element of a wider ‘system of systems’ – the smart city. Jason Barnes, Jon Masters and David Crawford report on latest ideas and efforts for making cities ‘smarter’ Virtually every element of the fabric and utilitarian operations that make urban areas tick can now be found somewhere in the mix that is the ‘smart city’ agenda. Ideas have expanded and projects pursued in different directions as the rhetoric on making cities ‘smarter’ has grown. App
    Read More
  • How on-board video systems can increase vehicle & road safety
    January 7, 2022
    Hikvision examines technology which can avert danger in cars, school buses, taxis and trucks
    Read More
  • Towards common standards for cooperative road infrastructures
    July 23, 2012
    Michael Noblett of Connexis discusses international progress towards common standards for cooperative road infrastructures. Will vehicle safety communications standards be able to support ITS on the international level, or will we settle once again for regional interoperability only? The answer lies in the current status of the draft standards themselves, and the requirements users and authorities are placing on the people who draft them.
    Read More
  • Authorities look to MaaS for new solutions and cost savings
    July 18, 2017
    The structure of society and the way in which our cities work will be completely transformed by Mobility as a Service (MaaS), Finland’s minister of transport and communications Anne Berner, told ITS International’s recent MaaS Market conference 2017 in London. In her keynote address, Berner told a packed audience of more than 200 ITS professionals that MaaS has the potential to help governments around the world meet their big city targets such as the rate of employment, the environment, the efficient use of
    Read More

Highlighted Content