Q1 2021 Funding Up 1,362% YoY to $18.7 million

Note # 017

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📈 Q1 Funding Up 1,378% YoY to $18.7 million

During Q1 2021, Pakistani startups raised $18,700,000 in disclosed funding across eight deals.

Compared to the first quarter of 2020, it’s an increase of 1,378% from $1,265,000. However, compared to the fourth quarter of 2020, it is a 6% decline from $19,645,000 million.

For more numbers and a list of startups that raised funding, check out the blog post.

Q1 2021 Funding and Deals


💰 Funding (disclosed)

$150,000

24Seven.pk, the Lahore-based grocery delivery startup, raised $150,000 in Seed funding from the SOSV accelerator.

$150,000

Dastgyr, the Karachi-based B2B e-commerce marketplace startup, raised $150,000 in Seed funding from the SOSV accelerator.

$1,400,000

Remotebase, the Lahore-based startup HR Tech startup placing remote engineers, raised $1,400,000 in Seed investment from Indus Valley Capital, Draper Associates, and Hustle Fund.

$1,000,000

Sehat Kahani, the Karachi-based telemedicine startup, raised $1,000,000 in Pre-Series A funding from Islamic Development Bank, 10Pearls Ventures, Mentors Fund, Impact Fund, Impact Investment Exchange, KASB Securities and Din Group.

$7,200,000

SadaPay, the Islamabad-based FinTech startup building a neobank, raised $7,200,000 in Seed funding from Recharge Capital, Kingsway Capital, and Raptor Group.


📰 Learn

How Oraan is improving financial inclusion for women by leveraging the informal banking sector. Ucaaz aims to revive community grocery stores in Pakistan. Foree wants to unify all digital payments into one app. Riyadh-based Nuwa Capital raises $75 million for its debut fund in MENA, Turkey & Pakistan. Spotify is hopeful it can strike a chord with both listeners and artists in Pakistan. Reducing friction and the rise of white-labeled ecommerce. Safepay halts operations until it can get regulatory approval. Careem’s ambitious plan to become Pakistan’s super app.


🧠 Read

The impact of credit ratings on investment. How Bykea is transforming Pakistan's gridlocked megacities using the Google cloud. Founders with American degrees are more likely to attract VC funding. Liberalization of foreign investment regime. A successful startup ecosystem celebrates failure. Spotify in Pakistan feels “good.”


📺 Watch

A day in the life of a software engineer at Bazaar Technologies. Making data-driven investment decisions in Pakistan. Muneeb Maayr talks about Bykea Cash. And last but not least, yours truly talks about Pakistani startups, VCs and incubators with Amir Siddique.


Techshaw Notes is a monthly newsletter covering Pakistan’s startup ecosystem with a focus on funding. If you haven’t already, please subscribe and join 209 readers.

Keep an eye on startup funding in Pakistan. Check out Techshaw Pulse, the startup funding tracker.

Until next month, ✌️

zahid

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