Just one Pakistani startup raised disclosed funding in January
Note # 036
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A not so stellar start to the year.
First, you realize there’s a 57-year-old with 8-pack abs, which makes you question the life choices you have made, and then you do a tally to realize that just one Pakistani startup raised funding in January.
To add to the misery, the “largest, biggest, hugest” tech conference in Pakistan resulted in ZERO funding announcements. Surprised, but not really. It’s a reminder of the low signal-to-noise ratio that’s the Pakistani startup ecosystem.
Given the slow month, I had time to look at the five Pakistan-focused VC firms that funded half of all startups in 2022 - I call them The Big 5. What they funded and who they funded. It’s all here.
Lastly, Profit and Business Recorder shared some observations on the 2022 startup ecosystem.
“Techshaw highlights that the rise in deals in early 2022 was due to the time lag of 2-3 months for the round to be announced after it is closed.”
NGL. Being mentioned in the media is such an ego boost.
💰 Funding (disclosed)
Befiler raised $1.5 million in Seed funding.
All you need to know about the new digital banking licensees. The establishment of the Saudi-Pakistan Tech House. It’s funding winter, not doomsday. PSX’s GEM board’s slow start. The Gong ceremony marks the largest acquisition in the IT sector. Sehat Kahani is showing Pakistan that digital health services can change lives. sAi Venture Capital looking is looking for investment opportunities. The EdTech conundrum.
Afterschool Pizza Parties: EdTech’s Cheezious Aspirations. IT revolution and Pakistan’s economic crisis. Pakistan’s startup story. Will SBP’s Cloud Policy finally make financial services more efficient? The near-fatal crash of mobility startups in Pakistan. Understanding the business models behind tech services agencies in Pakistan.
misaal podcast: Conversation with Ariba Shahid, formerly DealStreetAsia and now Reuters, on the state of the Pakistan economy and the Startup Ecosystem. Mutaher Khan, from Data Darbar and DAWN, on the issuance of Digital Banking License. And Akbar Tejani, founder of Befiler, on raising $1.5 million seed to build Pakistan’s TurboTax.
All of the above episodes are also available on YouTube.
Rabeel Warraich, Founder of Sarmayacar, sits down with Mooroo.
🚀 Startup I am excited about
ITeachStuff - Learn in-demand skills in Urdu from passionate instructors and influencers you love.
Until next month, ✌️