Note # 017

Zahid Lilani
Note # 017

Last week when I heard about Mauqa Online shutting down, I was crushed. Not because a startup is not supposed to fail – 95% of startups fail.

But what happened with Mauqa was at no fault of their own.

I will leave the autopsy for some other day. In this newsletter issue, my only ask is that you spread the word about ex-Mauqa Online employees looking for work. Please check out this link and reach out if you or someone you know is looking for ROCKSTARS.

For those of you who may not know, Mauqa Online is (was) Pakistan’s TaskRabbit. And unfortunately, it wasn’t the first startup trying to replicate TaskRabbit in Pakistan – Sukoon was the first – and it also failed.

💰 Funding (disclosed)

$320,000

Edkasa, the Lahore-based grocery EdTech startup, raised $150,000 in Pre-Seed funding from i2i Ventures, Walled City Co., Zayn Capital.

$1,500,000

Truck It In, the Karachi-based freight marketplace startup, raised $1.5 million in Pre-Seed funding from Global Founders Capital, Fatima Gobi Ventures, Deosai Ventures, BitRate, and +92 Ventures.

$1,500,000

CreditBook, the Karachi-based lending CRM startup, raised $1.5 million in Seed investment from BitRate, VentureSouq, Better Tomorrow Ventures, Ratio Ventures, Toy Ventures, Quiet Capital, and i2i Ventures.

$6,700,000

RetailO, the Karachi-based (HQ in Saudi Arabia) B2B e-commerce marketplace startup, raised $6.7 million in Seed funding from Shorooq Partners, Abercross Holdings, AgFunder, and Arzan Venture Capital.

📰 Learn

Are startups in Pakistan overvalued? RetailO’s eye-popping seed funding. Increase in investments is directly related to positive economic indicators. ESOPs get SECP blessing. 13 Pakistanis make it to the Forbes 30 and Under 30 list, including some startup founders. Pakistan’s inclusion in Amazon’s ‘list of countries currently accepted to register for selling’ was celebrated prematurely.

🧠 Read

Pakistan needs its ‘Sputnik’ moment. Primer on Pakistan’s first eCommerce Awards 2021 and some highlights. Airlift’s secret sauce.

🎙️ Listen

Saramayacar’s Rabeel Warraich talks Wapistani Effect.

📺 Watch

Fasieh Mehta on How to build a digital Pakistan for the common man. Fireside chat with Governor State Bank of Pakistan, Dr. Reza Baqir.


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