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February was a happening month - all things considered.
Three startups announced funding (see below) as we reach the end of 2022 leftover deals. Once Krave Mart and a few others announce, we will be back in 2023.
But the month started with a hissy fit by PTA. It banned Wikipedia. After three days, the Prime Minister's order reversed the ban.
It did the damage, though.
Media quickly reported the banning of Wikipedia, highlighting the absurdity of the ban. But one silver lining was how quickly the tech stakeholders mobilized to help reverse the ban.
Then there was news that the Apollo Group got accepted to YC - Airlift co-founder’s third act. The website copy and the way it describes the product sounds like something written by ChatGPT with the prompt:
Please write website copy for a startup similar to Task Rabbit. Make the product sound sophisticated and sprinkle random statistics. Make sure to mention the word population.
First, mobility, then grocery delivery, and now a marketplace for domestic services. Find me a founder who takes YOLO more seriously.
Go ahead. I’ll wait.
💰 Funding (disclosed)
AdalFi raised $7.5 million in seed funding.
Swag Kicks raised $1.2 million in seed funding.
I know it’s $8.7 million. I am rounding it up to $9 million.
💰 Funding (undisclosed)
🚨 Resource
A database of all VCs and angel investors who have invested in Pakistan. Thank you, Carbon Law and Data Darbar.
📰 Learn
Wikipedia banned over ‘sacrilegious’ content. And later unblocked after the PM intervened. Pakistan's largest IT company, Systems Ltd., opens its regional HQ in Saudi Arabia. Defy.vc, which has funded Bazaar in Pakistan, closes a $300M fund. What Pakistan’s economic turmoil means for its fledgling tech startups. Daraz and Byte announce layoffs. Digital technology and experiences company plans IPO. Rocky road ahead for the ecosystem.
🧠 Think
E-commerce laws and their challenges in Pakistan. Borrowing from yourself. DealCart’s makeover. B2B is the future. Gambling is halal during PSL.
📢 Now hiring
i2i Ventures is looking for an investment associate in Karachi.
🚀 Startup I am excited about
Bhartee - Providing businesses access to verified and skilled blue-collar workers.
🎙️ Listen
Conversation with Shoaib Lalani, co-founder of FinPocket.
Are you a founder, investor, or an SME working at a startup? Be a guest on the misaal podcast. Book a slot here.
📺 Watch
Uzair Younus talks to Omer Khan, co-founder of PostEx, on the Pakistonomy podcast, and Shershah Hassan, co-founder of Kalpay, talks to Fozaib Afzal.
Until next month, ✌️