Pakistani Startups Secure $32 Million in Early FY2024-25

Pakistani startups made a promising start to the fiscal year 2024-25, raising a significant amount of funding. In the first four months, local startups secured a total of $32 million from various investors.

During the first quarter, startups raised $15 million, followed by an additional $17 million in October. This surge in investment activity can be attributed to several factors, including:

• Improving Economic Conditions: The resumption of the IMF program and positive economic indicators have boosted investor confidence in Pakistan’s startup ecosystem.
• Favorable Government Policies: The government’s supportive policies, such as the establishment of the Special Investment Facilitation Council (SIFC), have created a conducive environment for foreign investment.
• Strong Performance of Local Startups: The success of Pakistani startups in recent years has attracted the attention of both local and international investors.

Some of the notable deals in October include:

• COLABS: This startup raised $2 million in a Pre-Series A round led by Shorooq Partners.
• Abhi: This fintech startup secured $15 million in credit financing from Shorooq Partners.
• Farmdar: This agritech startup raised an undisclosed amount in a Pre-Series A round led by Moment Ventures.

Additionally, there has been significant merger and acquisition activity in the Pakistani startup ecosystem. TRAX merged with Secure Logistics Group Limited (SLGL), and Trikl was acquired by Elphinstone.

The positive momentum in Pakistan’s startup ecosystem is expected to continue in the coming months. With a supportive government, a growing pool of talented entrepreneurs, and increasing investor interest, Pakistan has the potential to become a major player in the global startup scene.