List of Pakistani startups that raised funding in 2023

29 Pakistani startups raised $75+ million in disclosed venture capital funding in 2023 across 30 deals.

Here’s the list categorized by funding stage:

Funding Stage

• Pre-seed
• Seed
• Series A

Pre-seed

1. Pattern, a Lahore-based AdTech startup, raised $250k in pre-seed funding from Accelerating Asia.
2. EduFi, a Lahore-based (HQ in Singapore) EdTech startup providing student loans, raised $6.1 million in pre-seed funding from Zayn VC, Palm Drive Capital, Deem Ventures, Q Business, and various angel investors.
3. Voyage, a Lahore-based digital freight forwarding startup, raised $1 million in pre-seed funding from Indus Valley Capital.
4. BusCaro, a Karachi-based mobility startup, raised $1.5 million in pre-seed funding from Orbit Startups and Wahed Ventures.

Seed

1. Befiler, a Karachi-based FinTech providing tax and business advisory services, raised $1.5 million in seed funding from Cistech Capital and Lakson Venture Capital.
2. AdalFi, a Lahore-based fintech building a credit-scoring platform for digital lending, raised $7.5 million in seed funding from COTU Ventures, Chimera Ventures, Fatima Gobi Ventures, and Zayn VC.
3. Swag Kicks, a Karachi-based pre-loved e-commerce startup, raised $1.2 million in seed funding from i2i Ventures, Techstars Toronto, CrossFund, Rose Lake Ventures, Elevation Ventures, and STAK Group.
4. Trukkr, a Karachi-based startup managing logistics and finances for trucking companies, raised $6.4 million in seed funding from Accion Venture Lab, Sturgeon Capital, Haitou Global, and Al Zayani Venture Capital.
5. Maqsad, a Karachi-based EdTech startup, raised $2.8 million in seed funding from Speedinvest, Indus Valley Capital, Alter Global, and Stellar Capital.
6. Trax, a Karachi-based e-commerce logistics startup, raised $3.7 million in seed funding from Amaana Capital, Tricap Investments, and PNO Ventures.
7. Apollo Group, a Lahore-based HR Tech startup, graduated from YC’s W2023 batch with $500k.
8. GoldFin, a Lahore-based FinTech startup, raised $2 million in seed funding from Insitor Partners.
9. EasyFresh, an Islamabad-based AgriTech startup, raised $250k from SOSV’s Orbit accelerator program.
10. Qist Bazaar, a Karachi-based BNPL startup, raised $500k in equity and $1.2 million in debt from Bank Alfalah.
11. OkayKer, a Karachi-based Automotive startup, raised $700k in seed funding from Orbit Startups, Cur8 Capital, FRIM Ventures, and Sabr Capital.
12. Neem, a Karachi-based FinTech startup, raised $1 million in seed extension from DNI Group.
13. Paismo, a Lahore-based HR Tech startup, has raised $1.3 million in seed funding from Indus Valley Capital, Antler, and Jedar Capital.
14. Zyp Technologies, an Islamabad-based electric vehicle startup, raised $1.2 million in seed funding from Indus Valley Capital.
15. Elphinstone, a Karachi-based (HQ in New York) investment advisory startup, raised $1 million in seed funding from Y Combinator, Hi2 Global, and Soma Capital.
16. Truckistan, an Islamabad-based logistics startup, raised $1 million in seed funding from Reflect Ventures, Orbit Startups (SOSV), Mentor’s Fund, Sarmayacar, sAI Venture Capital, Loyal VC and Five Rivers Ventures
17. Taleemabad, an Islamabad-based EdTech startup, raised $2.3 million in seed funding from Malala Fund and Sorenson.
18. Krave Mart, a Karachi-based quick-commerce startup delivering groceries, raised $6.25 million in funding from Y-Combinator, JAM Fund, Rebel Fund, DeCart Ventures, ru-Net, and Zayn VC.
19. MedIQ, an Islamabad-based B2B healthcare marketplace, raised $180K in seed funding from SOSV.*
20. Helpp, a Karachi-based on-demand services startup, raised $1.1 million in seed funding from E Planet Global, You Venutres, and J Holding Pakistan.
21. CodeNinja, a Lahore-based (HQ in Toronto) software consulting startup, raised $1.6 million in seed funding from sAi Venture Capital and Plutus21 Capital.
22. Blink, a Karachi-based quick commerce platform (HQ in Saudi Arabia), raised $2.1 million in seed funding from SOSV, 500 Global, and Global Founders Capital.
23. Kickstart, a Lahore-based coworking startup, raised $700k (PKR 200 million) from Vital Group.

Series A

1. Sehat Kahani, a Karachi-based Health Tech startup, raised $2.7 million in Series A funding from Amaanah Circle, Epic Angels, Cross Fund, USAID, Augmentor, Impact Investment Exchange, and the Elahi group of companies.
2. Retailo, a B2B marketplace for small businesses, raised $15 million in series A funding from Yusuf Bin Kanoo Group, Technology Group, Majd Digital, Aujan Group Holdings, Shorooq Partners, Abercross Holdings, Graphene Ventures, and $1.5 million in funding from Dtonic.

*This list doesn’t include undisclosed rounds less than $250k. MedIQ’s $180k is an exception, as it has previously raised money exceeding $250k+ in total funding.

Criteria: Active VC or Angel-funded startups founded by a Pakistani and headquartered in Pakistan with the majority of employees and at least one founder in Pakistan and a product created for the global and Pakistani market. If not headquartered in Pakistan, the majority of employees and at least one founder is in Pakistan. It does not include rounds with funding amounts less than $250,000.

Data sources: internal tracker.