Here’s How Much Funding Pakistani Startups Raised in 2021

2021 was a monumental year for the Pakistani startup ecosystem. A large number of startups raised multiple rounds in the year including the likes of Bazaar, Abhi, TAG, and many more helping the ecosystem raise 450 percent more than 2020.

Looking back at the past few years, 2018 was disappointing for the Pakistani ecosystem, with only seven startups managing to raise $5.7 million, the Pakistani startup ecosystem bounced back in 2019 and has not looked back since. However, in 2019, 14 startups, including Airlift, Tello Talk, Cheetay, Bykea, Eat Mubarak, and many more, managed to raise only $47 million.

In 2020, Pakistani startups including Trella, Jugnu, Walee, OPay, and many others closed $57.7 million across 41 deals. By the end of Q4 2020, this number reached $65M.

From 2015 up till 2021, the total amount raised by Pakistani startups across 255 deals reached $563.5 million, as reported by Invest2Innovate. 61% of this amount has been raised in the past year alone.

Finally, in 2021, insights shared by Invest2Innovate claim Pakistani Startups raised $19.26 million in 13 deals during Q1 and $81.73 million in 18 deals in Q2. Up until Q3, Pakistani startups raised $173 million across 17 deals, for a total of $273.9 million across 48 deals. By the end of the year, Pakistani startups raised $350 million across 81 deals, with $69 million raised across 22 deals.

Kalsoom Lakhani, General Partner i2i Ventures, shared important insights into funding raised by Pakistani startups in 2021 on Twitter. The highest performing sectors of the year were noted to be e-commerce, fintech, and logistics.

The final amount raised by the end of the year 2021 by Pakistani startups was $365.87 million as reported by DAWN. Here’s a breakdown of the startups that raised the highest funds in 2021 with data from i2i’s Deal Flow Tracker and Techshaw Pulse:

Q1 2021

No. Name Funding Type Funding Amount ($) Investors
1 SadaPay Seed 7,200,000 Recharge Capital; Kingsway Capital; Raptor Group
2 Udhaar Book Seed 125,000 Y-combinator
3 Sehat Kahani Pre-series A 1,000,000 Islamic Development Bank; 10Pearls Ventures; Mentors Fund; Korean Impact Fund; Impact Investment Exchange
4 RemoteBase Seed 1,400,000 Indus Valley Capital; Draper Associates; Hustle Fund
5 Dastgyr Seed 150,000 SOSV
6 Seed 150,000 SOSV
7 Fitoor Seed 15,000 Bunyad
8 Vinncorp Seed 100,000 HRSG
9 Rinstra Technologies Series A 2,000,000 Undisclosed
10 Bazaar Seed 6,500,000 Global Founders Capital; Indus Valley Capital; S7V; Wavemaker Partners; Derayah Venture Capital; Next Billion Ventures
11 Chkar Lodging Seed 300,000 MFSYS
12 dTrade Pre-seed 885,000 Polychain Capital; Pnyx Capital; Hypershare Ventures; Divergence Ventures; CMS Holdings; AU21 Capital
Total Amount $19,825,000

Q2 2021

No. Name Funding Type Funding Amount ($) Investors
1 Trivzia Seed 400,000 47 Ventures
2 Rare Sense Seed 400,000 Undisclosed
3 Jugnu Series A 3,200,000 Systems Limited
4 Grocer App Series A 5,200,000 Hayaat Global; Millville Opportunities Fund; Wamda Capital; Jabbar Internet Group; Nama Ventures; Haitou Global; Lean Bricks; Walled City Co.
5 Dawaai Series A 8,500,000 500 Startups; Sarmaycaar
6 Abhi Seed 2,000,000 Village Global; Sarmayacar; i2i Ventures; Zayn Capital
7 KTrade Seed 4,500,000 TTB Partners; HOF Capital
8 TAG Pre-Seed 5,500,000 Quiet Capital; Liberty City Ventures; Fatima Gobi Ventures; Unpopular Ventures; Visa
9 Tajir Series A 17,000,000 Kleiner Perkins; Y Combinator Continuity Fund; AAVCF; Fatima Gobi Ventures; Flexport; Golden Gate Ventures; Liberty City Ventures; VentureSouq
10 dTrade Seed 6,400,000 Three Arrows Capital; Polychain Capital; IOSG Ventures; Fenbushi Capital
11 Retailo Seed 6,700,000 Shorooq Partners; Abercross Holdings; Arzan Venture Capital
12 CreditBook Seed 1,500,000 BitRate VC; VentureSouq; Better Tomorrow Ventures; Ratio Ventures; Toy Ventures; Quiet Capital; i2i Ventures
13 Jabberwock (Cheetay) Series B 18,500,000 Hummer Winblad Venture Partners; Doris Duke; Advent International
14 Truck It In Pre-Seed 1,500,000 Global Founders Capital; Fatima Gobi Ventures; Deosai Ventures; BitRate Venture Capital; +92 Ventures
15 Edkasa Pre-Seed 320,000 i2i Ventures; Walled City Co; Zayn Capital
16 Finja Series A 1,150,000 HBL
17 HS360 Seed 38,000 Syed Ahmed Masud
Total Amount $82,808,000

Q3 2021

No. Name Funding Type Funding Amount ($) Investors
1 QisstPay Seed 15,000 MSA Capital; Global Founders Capital; Fox Ventures; First Check Ventures.
2 Oraan Seed 3,000 Zayn Capital; Wavemaker Partners; Resolution Ventures; i2i Ventures; Hustle Fund; Haitou Global; Plug and Play; and angels like Claire Diaz-Orti
3 TAG Seed 12,000 Liberty City Ventures; Canaan Partners; Addition LP; Mantis Venture Capital; Banana Capital; Co-founder of Plaid, William Hockey.
4 Maqsad Pre-seed 2,100,000 Indus Valley Capital; Alter Global; Fatima Gobi Ventures
5 BridgeLinx Seed 10,000,000 20 VC; Buckley Ventures; Indus Valley Capital; Wavemaker Partners; Quiet Capital; TrueSight Ventures; Soma Capital; Flexport; Magnus Rausing’s UNTITLED
6 Ailaaj Seed 1,600,000 JS Group; Fazal Din Group; Leonine Tech Ventures
7 Truck It In Pre-Seed 3,000,000 Global Founders Capital; Fatima Gobi Ventures; Picus Capital; Zayn Capital
8 TAG Seed 125,000 Y-combinator
9 Abhi Seed 125,000 Y-combinator
10 Walee Seed 2,700,000 Z2C
11 Bazaar Series A 30,000,000 Defy Partners Management LLC; Wavemaker Partners LLC; Acrew Capital Management Co.; Japan’s Saison Capital; Zayn Capital Ltd.; Indus Valley Capital
12 Airlift Series B 85,000,000
20VC; Buckley Ventures Ltd.; Invest2Innovate; Sam Altman; Quiet Capital; Indus Valley Capital
13 Marham Seed 1,000,000 Indus Valley Capital
14 Dastgyr Seed 3,500,000 ADB Ventures; Seedstars; Edgebrook Partners; Zayani Venture Capital; Tricap investment
15 Digikhata Seed 2,000,000 MSA Capital; Shorooq Partners; +92 Ventures; SOSV
16 Trukkr Seed 600,000 Anchorless; Kinnow VC
17 SmartChoice Seed 150,000 SOSV; MOX
18 Swag Kicks Seed 150,000 SOSV; MOX
19 Tasdeeq Series A 3,000,000 The Pakistan Microfinance Network (PMN), Pakistan Credit Rating Agency (PACRA), 47 Ventures
20 Grandeur Pre-Seed 130,000 Hustle Fund; Abbas Yousafzai; Walled City Co
21 Jugnu Seed 2,000,000 Sarmayacar
22 DeafTawk 250,000 GSMA Innovation Fund
Total Amount $177,430,000


Q4 2021

No. Name Funding Type Funding Amount ($) Investors
1 Tazah Pre-Seed 4,500,000 Fatima Gobi Ventures; Vibe Capital; Shorooq Partners; Nuwa Capital; Ru-net; Alter Global; Julian.Capital; Kinnow Capital; Early Grey Capital; K3 Fund
2 Jiye Pre-Seed 2,500,000 Sarmayacar; Access Bridge Ventures; Jabbar Internet Group; EquiTie; Seedstars
3 CreditBook Pre-series A 11,000,000 Tiger Global; Better Tomorrow Ventures; firstminute Capital; Banana Capital; VentureSouq; Ratio Ventures; i2i Ventures
4 Krave Mart Pre-seed 6,000,000 MSA Capital; Ru-Net; Global Founders Capital; Zayn Capital; Saison Capital’ +92Ventures; 2AM; Mehta Ventures; Jeddar Capital; Lakson Venture Capital
5 Bagallery Series A 4,500,000 Zayn Capital; Hayaat Global; Lakson Venture Capital
6 Series A 7,500,000 Zayn Capital; Hayaat Global; BY Ventures; Lakson VC; Jabbar Internet Group; Millville Opportunities; Mentor’s Fund.
7 Pre-series A 2,300,000 Tricap Investments; CSHL
8 Lettus Kitchen Seed 250,000 Multiple Angel Investors
9 PostEx Seed 7,100,000 Global Founders Capital; FJ Labs; RTP Global; Alma Capital
10 Savyour Seed 3,300,000 Fatima Gobi Ventures; Rally Cap Ventures; +92 Ventures; Suya Ventures
11 Udhaar Book Seed 6,000,000 Fatima Gobi Ventures; Muir Capital; JAM Fund LLC; Integra Partners; Commerce Ventures LLC
12 Zarya Pre-seed 1,700,000 Fatima Gobi Ventures; Class 5 Global, Global Founders Capital
13 Rider Seed 2,300,000 Global Founders Capital; Fatima Gobi Ventures; Asian Development Bank
14 Munchies Pre-seed 2,500,000 Unilever Pakistan; VentureDive
15 Tazah Pre-seed 2,000,000 Ratio Ventures; Walled City Co; i2i Ventures; Suya Ventures; Globivest; Afropreneur Syndicate; +92 Ventures; Sunu Capital; Musha Investments; and other angel investors
16 Integry Seed 3 Million Bonfire Ventures; Operator Collective; Basecamp Fund; Silicon Badia; Lead Pencil, and angel investors, including Dan Scheinman
17 PostEx Seed 1,500,000 MSA Capital; Shorooq Partners; Zayn Capital; VentureSouq; PNO Ventures; 92Ventures
18 Healthwire Series A 3,300,000 47 Ventures; Habib Bank Limited; Dilsons Pvt. Ltd.
19 Scholar Den Pre-Seed 75,000 Angel Investors
Total Amount $71,325,000