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Sunday, November 27, 2022
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Startup’s Funding in Pakistan down by 41% in 3 Months

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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.

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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.

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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).

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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.

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