In accordance with Sections 96 of the Securities Act, 2015 and Clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited, we hereby convey the following:
We are pleased to announce that Rider, in which TPL E-Ventures, a wholly owned subsidiary of TPL Corp Limited, owns around 27% stake, has successfully raised seed funding of $3.1 million for its business.
This seed funding round includes investment from YCombinator, i2i Ventures, Flexport, Soma Capital and Rebel Fund. Existing investors including Global Founders Capital, Fatima Gobi Ventures and TPL E- ventures and the funding in aggregation to a pre-seed round raised in September, 2021 takes the total valuation of Rider to $ 40 Million.
The fund will be used for the further investment in refining the product, largely through a strengthening of Rider's technology which will improve the user experience.
Yours sincerely,
________________
Danish Qazi
Company Secretary
Cc:
Director / HOD
Surveillance, Supervision and Enforcement Department
Securities and Exchange Commission of Pakistan
NIC Building, 63 Jinnah Avenue
Blue Area, Islamabad
ANNEXURE A
DISCLOSURE FORM
IN TERMS OF SECTIONS 96 AND 131 OF THE SECURITIES ACT, 2015
Name of Company:
TPL Corp Limited
20th Floor, Skytower, East Wing, Dolmen City
Abdul Sattar Edhi Avenue, HC-3, Block 4,
Clifton, Karachi.
Date of Report:
June 22, 2022
Contact Information:
Danish Qazi
Company Secretary
20th Floor, Skytower, East Wing, Dolmen City
Abdul Sattar Edhi Avenue, HC-3, Block 4,
Clifton, Karachi.
Telephone Number:
+92 21 34390300 (5)
Fax Number:
+92 21 35316028
Please mark the appropriate box below (see General Instruction A.1 below before filing the details).
[√ ]
Disclosure of price sensitive / inside information by listed company.
Public disclosure of price sensitive / inside information, which directly concerns the listed securities.
We are pleased to announce that Rider, in which TPL E-Ventures, a wholly owned subsidiary of TPL Corp Limited, owns around 27% stake, has successfully raised seed funding of $3.1 million for its business.
This seed funding round includes investment from YCombinator, i2i Ventures, Flexport, Soma Capital and Rebel Fund. Existing investors including Global Founders Capital, Fatima Gobi Ventures and TPL E- ventures and the funding in aggregation to a pre-seed round raised in September, 2021 takes the total valuation of Rider to $ 40 Million.
The fund will be used for the further investment in refining the product, largely through a strengthening of Rider's technology which will improve the user experience.
The company has duly caused this form / statement to be signed / on its behalf by the undersigned hereunto duly authorized.
________________
Danish Qazi
Company Secretary
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TPL Corp Ltd. published this content on 22 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2022 07:04:02 UTC.
TPL Corp Ltd is a Pakistan-based company, which is engaged in the installation and sale of tracking devices, vehicle tracking and fleet management. The Company's portfolio companies include TPL Insurance Limited, TPL Life Insurance Limited, TPL REIT Management Company Limited, TPL properties Limited, TPL security services Limited, TPL e-Ventures, and TPL Trakker Limited. TPL Insurance is engaged in developing tech-driven products, advanced solutions, and digitally integrated systems to deliver hassle-free customer experiences. It offers all lines of non-life insurance. TPL Properties develops and invests in bespoke commercial and luxury residential spaces. TPL Trakker is a telematics company providing Internet of things (IoT), tracking, mapping, and location-based solutions. TPL security services is a security company. TPL e-Ventures is a venture capital investor focused on Pakistani tech or tech enabled companies at a pre-seed and seed level.
TPL CORP LIMITED 
