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Pakistani startups raised $12 million in disclosed funding across four deals in November.
This brings the total funding raised by startups in 2022 to $345 million. That’s $5 million more than 2021.
Funding (disclosed)
Waada raised $1.3 million in seed funding from undisclosed investors.
Finja raised $10 million in Series A2 funding from HBL and Sturgeon Capital.
BusCaro raised $500k in Seed funding from multiple angel investors.
📰 Learn
Together with Zayn Capital, Techshaw is creating a content series deconstructing venture capital as it relates to the Pakistani market.
So far, we have published a primer on venture capital, an explainer on SAFE, and metrics VCs look for before funding Pakistani startups.
JS Group partners with 500 Global. P@SHA calls for the government to enhance the ease of doing business. IFC starts a VC Platform to fund tech startups in Africa and Pakistan. Farmdar partners with SkyWatch. Foodpanda partners with KalPay. Jiye Technologies partners with Syngenta. NIFT ePay partners with KuickPay. Uber abandons its growth-at-all-cost strategy in Pakistan. SWVL shuts down in Pakistan for good. Careem crosses 1 billion rides.
🧠 Think
The rise of Islamic fintechs. 24SEVEN is using tech to build communities. The growth trajectory of Pakistani khata apps. How EdTech evolved in Pakistan. A song from the Pakistani audio streaming scene.
🎙️ Listen
misaal podcast: Conversation with Nashit Iqbal, co-founder of OkayKer. And a conversation with Ehsan Baig, co-founder of GilgitApp.
📺 Watch
misaal podcast: Conversation with Nashit Iqbal, co-founder of OkayKer. And a conversation with Ehsan Baig, co-founder of GilgitApp.
Uzair Younus talks to IFC's Mohamed Eissa about the IFC's perspective on venture capital and the role the IFC is looking to play in Pakistan.
🚀 Startup I am excited about
Khair - Provides subscription-based menstrual hygiene products and period and pregnancy tracking services.
Creations: A handy startup funding tracker and an interview-style podcast. Previous issues of this newsletter can be found here.
Until next month, ✌️