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 |
| 1. | Screen-IT | $250,000 |
| 2. | InstaCare | $140,000 |
| 3. | MandiExpress | $725,000 |
| 4. | Tajir | $3,300,000 |
| 5. | Bazaar | $1,300,000 |
| 6. | Airflift | $10,000,000 |
| 7. | Emeds.pk | $250,000 |
| 8. | Social Champ | $225,000 |
| 9. | GrocerApp | $1,000,000 |
| 10. | Baby Planet | $250,000 |
| 11. | Safepay | $150,000 |
| 12. | Byte | $150,000 |
| 13. | Aimfit | $1,000,000 |
| 14. | Bykea | $13,000,000 |
| 15. | Healthwire | $700,000 |
| 16. | MedznMore | $2,600,000 |
| 17. | FindMyAdventure | $600,000 |
| 18. | Bagallery | $900,000 |
| 19. | Conatural | $825,000 |
| 20. | Clicky | $700,000 |
| 21. | Roomy | $1,000,000 |
| 22. | Finja | $9,000,000 |
Via: Techshaw
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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.