Despite a global economic slowdown due to the Coronavirus pandemic, Pakistani startups managed to raise a record $47 million in pre-seed, seed, pre-Series A, Series B, and Series B funding rounds during 2020 in 23 deals, a 26% increase from 2019. Pakistani companies had raised $37 million across 19 deals in 2019.
According to Techshaw, 23 deals, most of them in the transportation category, were signed last year with the average deal being worth just over $2 million.
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In terms of funding raised in each quarter during 2020, 8 deals worth $1.265 million were signed during Q1 while 3 deals worth $13.1 million were inked during Q2.
8 deals worth $16 million were finalized during Q3 while 8 deals worth $16.3 million were signed during Q4 last year.
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Here is a detailed list of all companies and funding they raised in 2020.
|Sr. No.||Company name||Funding raised|
Pakistan has mighty potential in various industries. Hopefully, startups keep increasing, and in-turn more jobs are created for people, and the economy improves as well.