Pakistani startups have managed to raise a record-breaking $120 million in 35 pre-seed, seed, pre-Series A, Series B, and Series B funding rounds during H1 2021.
The investment in the country’s startup ecosystem in H1 2021 has increased by 58% in comparison to the whole of 2020 in which Pakistani startups secured $66 million in 43 deals.
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According to Data Darbaar, from January to June, the e-commerce sector secured more than $42 million in 11 deals. Bazaar, Retailo, Tajir, Salesflo, and Dastgyr collectively raised $36.6 million, accounting for 87% of e-commerce sector funding. These five companies had secured only $6.2 million in the whole of 2020.
Last year, the e-commerce sector only received $11.2 million. Transport and logistics startups had dominated the investment rounds in both 2019 and 2020.
The fintech sector has raised $32 million in H1 2021. Fintech startups, Sadapay and TAG, raised $7.2 million and $5.5 million respectively. Last year, the Fintech sector raised only $9.6 million, almost all of which was contributed by Finja’s $9 million.
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Most Funded Startups
Jabberwock Ventures, the parent company of Cheetay and Swyft, raised $20 million during Series B funding round in the transportation and logistics category. Although the funding has never been officially disclosed, sources inside the company have quoted this figure.
Jabberwock Ventures is followed by Tajir which raised $17 million during Series A funding round in the e-commerce sector.
Educative raised $12 million in the EdTech sector, Dawaai raised $8.5 million HealthTech sector, and Sadapay raised $7.2 million in the FinTech sector.
Via: Dawn
