Pakistan’s startup funding activity had been a bit too dry lately, with Q3-2023 seeing the fewest deals since the last quarter of 2019. Maybe one can seek solace in the fact that we aren’t alone in this and the funding winter is truly global. October was off to an even worse start, but then, there was a flurry last week. Apparently, all the companies were waiting for +92 Dirsupt, organized by Katalyst Labs. During the conference, 10 deals were announced. According to sources, a few investments were scrapped at the last minute due to various issues.
Anyway, we compiled them all here.
1. EduFi
Sector: Fintech
Description: Study-Now-Pay-Later platform providing student loans using a credit-scoring model.
Founding Year: 2021
Founder(s): Aleena Nadeem
Funding Round: Seed
Funding Amount: $6.1M
Investors: Zayn VC, Palm Drive Capital, Deem Ventures Ltd, Q Business, Abhi, Adalfi, Techlogix
Total Funding (to date): $6.1M
2. KraveMart
Sector: Quick-Commerce
Description: Quick-commerce startup offering the delivery of groceries and other products.
Founding Year: 2021
Founder(s): Kassim Shroff, Hammad Bawany, Haziq Ahmed, and Ahsan Kidwai.
Funding Round: Seed
Funding Amount: $6.25M
Investors: Y Combinator, Keisuke Honda, JAM Fund, Rebel Fund, Decart Ventures, Conjunction Capital Zayn Capital.
Total Funding (to date): $12.25M
3. Voyage Freight
Sector: Logistics
Description: Digital freight forwarder streamlining international shipping and business operations.
Founding Year: 2022
Founder(s): Omar Mukhtar, Bilal Latif.
Funding Round: Pre-Seed
Funding Amount: $1M
Investors: Indus Valley Capital
Total Funding (to date): $1M
4. BusCaro
Sector: Transportation
Description: Mass-transit solution provider.
Founding Year: 2022
Founder(s): Maha Shahzad
Funding Round: Accelerator
Funding Amount: $180K
Investors: Orbit Startups
Total Funding (to date): $680K
5. MediQ
Sector: HealthTech
Description: Digitally integrated hybrid healthcare platform.
Founding Year: 2020
Founder(s): Saira Siddiqui
Funding Round: Accelerator
Funding Amount: $180K
Investors: Orbit Startups
Total Funding (to date): $1.98M
6. Truckistan Technologies
Sector: Logistics
Description: Tech-enabled less than truckload (LTL) player.
Founding Year: 2022
Founder(s): Abid Butt, Zafar Khan.
Funding Round: Seed
Funding Amount: $1M
Investors: ReflectVentures, Orbit Startups, Mentor’s Fund, Sarmayacar, SAI ventures, Loyal VC, Five
Rivers Ventures, Carlos Cashman, Siddhartha Kongara, Amir Husain, Syed Sheharyar Ali, Abbas Yousafzai, Yasser Bashir, Sheharyar Ahmed, We& Capital.
Total Funding (to date): $1M
7. Umrah Companions
Sector: Travel and Tourism
Description: Umrah advisors to help you build a customized travel plan to Makkah, Saudi Arabia.
Founding Year: 2021
Founder(s): Saad Salman, Salman Arain
Funding Round: Accelerator
Funding Amount: $180K
Investors: Orbit Startups
Total Funding (to date): $180K
8. Metamorph
Sector: Media
Description: Content lab that specializes in optimizing internet-native video.
Founding Year: 2020
Founder(s): Fazal Rehman, Omair Ahmed Siddiqui
Funding Round: Accelerator
Funding Amount: $180K
Investors: Orbit Startups
Total Funding (to date): $180K
9. ShakeTheAi
Sector: Gaming
Description: Game development studio producing PC, mobile, and console games.
Founding Year: 2020
Founder(s): Faisal Sheikh
Funding Round: Undisclosed
Funding Amount: Undisclosed
Investors: Magnus Ventures
Total Funding (to date): Undisclosed
10. The Northern Treasures
Sector: Travel and Tourism.
Description: Tour operating focusing on excursions to Northern Pakistan.
Founding Year: 2022
Founder(s): Muhammad Imran
Funding Round: Undisclosed
Funding Amount: Undisclosed
Investors: Magnus Ventures
Total Funding (to date): Undisclosed
Note: While Orbit Startups did announce their investment in Truckistan Technologies at +92Disrupt, the actual $1M round in which Orbit was ONE of the investors was announced in September 2023.
