Tuesday, October 8, 2024

Startup’s Funding in Pakistan down by 41% in 3 Months

E-Commerce had the largest inflows during April-June. Startup funding in Pakistan decreased by 41% to less than $104 million during 2nd quarter of 2022, compared to $177 million in January-March.

Startups raised almost $277 million in the first half of CY(Calender Year) 2022, indicating a 135 percent increase from $117.6 million as compared to period from last year.Location-wise, Karachi led the space by a wide margin, It attracted many customers. Companies in the city attracted $90.9 million over 19 deals, accounting for 87.6 percent of total investment and 81.8 percent of all deals respectively. Meanwhile, Lahore raised just $1 million in a single round which is very suprising to see, the lowest amount since 1QCY21.

Startups raised $103.8 million in funds from a total of 22 rounds in April-June CY22. This reduced the average ticket size by 58 percent to $4.94 million, from $11.5 million the previous quarter. However, financing increased when compared to $99.2 million from April-June CY21.

The top five rounds were led by Dastgyr ($37 million), Abhi Finance ($17 million), Medznmore ($11.5 million), Sadapay ($10.7 million), and Bykea ($10 million).

Startups raised $103.8 million in funds from a total of 22 rounds in April-June CY22. This reduced the average ticket size by 58 percent to $4.94 million, from $11.5 million the previous quarter. However, financing increased when compared to $99.2 million from April-June CY21.

881 startups have sacked over 141K individuals, and Pakistan is no exception. Several high-profile players have announced huge layoffs and withdrawals from certain services or marketplaces in recent months. Among them are Airlift, Truck It In, Retailo, Tazah, and Swvl.

Related Articles

Latest Articles