Sunday, May 19, 2024

Startups Funding in Pakistan Drops by 86% in 3 Months

In eight transactions, Pakistani start-ups raised a total of $23.1 million in the January-March quarter, a decrease of 86.6 percent from the same period last year.

The amount of money for the quarter, however, increased by 52.5 percent from the previous three months.
The long-term pattern has changed with the rebound from the low point in the final quarter of 2022.

The amount raised by Pakistani startups in October through December was $15.2 million, the lowest number since the first quarter of 2020, when it was only $5 million.

Data Darbar, a website that tracks investment flows into the nation’s digital industry, produced statistics showing that the deal count stayed steady while the quarterly improvement of 52.5 percent was on a low base.

There was also an uptick in deal sizes, as both the average and median levels posted some recovery and reached $3.85 million and $3.25 million, respectively.

These numbers show one of the lowest gaps between average and median levels. The difference had widened significantly during the period of capital frenzy about a year ago.

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