After breaking records in 2016, tech startup funding in Pakistan declined to its lowest level since 2014.
💰 — $3.2 million — Total amount raised by 7 startups.
📉 — 89% — YoY decline in funding.
👍 — $457K — Average funding.
🌇 — Lahore — Where 4 out of 7 startups are based.
Investments in 2017
1 — Finja raised $1.5 million in Series A
The most hyped FinTech startup tackling payments, Finja raised its second round of funding from Vostok Emerging Finance. This new round brings its funding to $2.5 million.
2 — AugmentCare raised $1 million in Seed
A health exchange connecting patients and doctors, AugmentCare raised seed investment from Leonine Tech Ventures and Fazal Din Group.
3 — ProCheck raised $250K in Seed
A HealthTech startup on a mission to eradicate counterfeit medicine in Pakistan, ProCheck raised its seed round from Sarmayacar.
4 — She’Kab raised $150K in Seed
An app-based carpooling service geared towards women, She’Kab raised its seed round from Katapult Accelerator.
5 — CarChabi raised $150K in Seed
The maker of an auto accessory that lets you unlock, lock and start your car, CarChabi raised its seed investment from Treet Group of Companies.
6 — NearPeer raised $100K in Seed
An EdTech startup, NearPeer offers paid and free college and test prep courses. Ali Aziz, Founder of Shopistan, invested in the seed round as an angel.
7 — CertCars raised $50K in Seed
A marketplace to buy and sell cars, CertCars raised its seed round from Shayaan Tahir — an angel investor and CEO of HomeShopping.pk.
Want more details? Check out the Google Sheet.
Acquisition in 2017
SmartDevices, an IoT home automation startup, was acquired by Orient Electronics for an undisclosed amount.