Uplift AI, a Pakistan-based voice technology startup, has raised $3.5 million in seed funding as it looks to expand voice-first AI products and create thousands of local jobs.

The round was led by Y Combinator, the Silicon Valley accelerator behind companies like Airbnb, Dropbox and GitLab, with participation from Indus Valley Capital. Other investors include Pioneer Fund, Conjunction, Moment Ventures, and a group of angel investors from Silicon Valley.

Founded by former Apple and Amazon engineers Zaid Qureshi and Hammad Malik, Uplift AI is focused on building voice AI systems for Pakistan’s regional languages, including Urdu, Punjabi and Balochi. The company’s goal is simple: enable people to interact with technology by speaking naturally in their own language.

Its flagship model, Orator, is designed to speak Urdu with near-human fluency, a capability the startup believes is critical in a country where literacy remains a major barrier to digital access.

Uplift AI says its tools are already gaining traction. More than 1,000 developers are using its APIs to build real-world applications ranging from FIR registration bots to voice-based health intake systems for rural clinics.

The company argues that voice-first technology is particularly important for Pakistan, where an estimated 42% of adults are unable to read, limiting participation in the digital economy.

“Voice technology can unlock access to knowledge and opportunity for millions of people,” said Hammad Malik, CEO of Uplift AI. “We started Uplift AI to make that impact now, not years down the line.”

Investors see a large opportunity in this approach. Aatif Awan, Partner at Indus Valley Capital, said voice is often the most practical gateway to the digital economy in emerging markets.

“Built by engineers with deep experience at Apple and Amazon, Uplift AI is creating the core voice infrastructure needed to unlock this market at scale,” he said.

The implications extend across mass-market sectors such as banking, healthcare, agriculture and government services,  areas where text-based digital solutions often fail to reach large segments of the population.

“In Pakistan, agriculture doesn’t lack effort; it lacks accessible intelligence,” said Sultan Raja, Head of AI Transformation at Syngenta Pakistan. “Uplift AI’s voice technology allows us to deliver that intelligence directly to farmers in their own language, helping them adopt AI and improve yields.”

According to CTO Zaid Qureshi, Uplift AI has taken a fully in-house approach to development, handling data collection, labeling and model training internally, a decision driven by the limitations of off-the-shelf solutions for regional languages.

“That investment is paying off,” he said. “We regularly hear from customers who say our models outperform OpenAI and Google for these languages.”

With the new funding, the startup plans to expand voice-first AI support across all major Pakistani languages. While the company sees long-term global potential in serving underserved languages worldwide, Pakistan remains its immediate priority.

“In the short to medium term, our focus is entirely on Pakistan,” Awan told Business Recorder.

Malik said approximately $1 million from the funding will be allocated to data collection and labeling,  an effort expected to generate thousands of local jobs. The remaining capital will be used for research and development, particularly in advancing speech recognition and speech generation for Pakistan’s five major languages.

While Uplift AI is not currently working directly with government departments, Malik noted that its platform is already open to startups and small businesses.

“More than 1,000 developers are already using our API,” he said. “Any startup or small business can sign up and start building today.”

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The rise of startups in Pakistan brought hope for innovation and economic growth. However, many promising ventures have shut down. What causes these failures? We will explore the downfall of 4 notable Pakistani startups. By examining their journeys, we will discuss common pitfalls and valuable lessons for future entrepreneurs. Dive into the challenges and insights behind these closures.

4 Pakistani Startups That Failed

In Pakistan, numerous ventures started and thrived, only to eventually fail. The reasons behind their failure included a lack of funds and poor allocation, lack of transparency between founders and investors, poor business and revenue models, inaccurate forecasts, weak supply chains, and much more.

Here are top 4 startup failure stories. They provide lessons to entrepreneurs who plan to launch their ventures. The stories offer insights into the common pitfalls and challenges faced by startups. They help entrepreneurs make informed decisions as they start and grow a business.

1. Airlift

Airlift Express Team

Airlift set out to revolutionize urban transportation in Pakistan when it launched in 2019, founded by Usman Gul, Ahmed Ayub and Meher Farrukh. Focused on offering a reliable bus-hailing service, it targeted customers seeking an alternative to traditional public transport. With its efficient service and user-friendly app, Airlift swiftly gained popularity, making commuting easier for many people in major cities like Lahore and Karachi.

Transitioning to Quick Commerce

The challenges brought about by COVID-19 significantly impacted public transportation services. In response, Airlift strategically shifted its focus from transportation to quick commerce (Airlift Grocer). This involved delivering groceries and essential goods directly to customers’ doorsteps, with a promise of delivery within 30 minutes. Leveraging their existing logistics network, the aim was to capitalize on the surging demand for online shopping and home delivery.

Funding Success

Airlift’s pivot attracted significant investor interest. The company raised over $85 million in funding from global investors. This capital influx let Airlift expand. It lets them build a strong infrastructure and grow across cities. Investors like First Round Capital and Indus Valley Capital led the funding round. It was one of the largest in Pakistan’s startup history.

Operational Challenges

Despite its initial success, Airlift faced several operational challenges. The quick commerce model required a vast inventory of products. It also required managing complex logistics and ensuring timely deliveries. High operational costs became a significant burden. The need for many vehicles, many warehouses, and much manpower added to the expenses.

Market Competition

Airlift’s quick commerce (Airlift Grocer) venture entered a competitive market. Daraz, GrocerApp, and many local stores established themselves. They had already captured much of the market. Airlift had to compete with these giants. This needed not only lots of money but also a unique value proposition. But Airlift often failed to deliver one.

Pakistan’s economic situation further exacerbated Airlift’s challenges. Rising inflation, currency depreciation, and fluctuating fuel prices increased operational costs. These economic pressures made it hard for Airlift to keep its low-cost promise. They also had to ensure profitability.

Closure and Aftermath

In July 2022, Airlift announced its decision to shut down its operations. The company cited two main reasons for its closure. They were a lack of lasting funding and rising costs. However, when its main investor withdrew support, Airlift found itself without the necessary funds to continue operating, leading to its sudden closure. The shutdown led to big layoffs. It affected hundreds of employees. They had been part of the company’s journey.

Lessons Learned

Airlift’s story offers several important lessons for startups:

• Transitioning can be smart. But it needs thorough market research and a solid plan.
• Controlling costs is crucial. This is especially true in high-burn business models.
• Having a competitive edge is vital. It means standing out from established competitors. This is the key to gaining and keeping market share.
• Startups must be ready for economic changes. These changes can impact their operations. Covid-19 was one of the reasons behind their failure.

2. CarFirst

Launched in late 2016, CarFirst operated as a mediator, purchasing cars from consumers and then selling them to dealers through online auctions, following a classic consumer-to-business-to-business model.

The online platform streamlined the process for car sellers, allowing them to get their cars inspected and sold within an hour, including the time taken for payment processing. CarFirst’s online auction platform for used cars also included an app, which provided partners and a network of buyers with a convenient way to find the cars they needed.

The Vision of CarFirst

CarFirst set out to make the used car transaction process simpler. They did this for both sellers and buyers. CarFirst aimed to remove the hassles of selling used cars the old way. They did this by offering instant quotes, free inspections, and quick payments. The company’s goal was to create a trustworthy, efficient marketplace.

Initial Success and Growth

CarFirst gained traction due to its innovative approach. The company set up a network of inspection centers. They expanded to major cities in Pakistan like Karachi, Lahore, and Islamabad. Customers could bring their cars for a free inspection. They would get an instant offer and get paid within hours if they accepted it. This convenience and transparency appealed to many car owners. They wanted to sell their vehicles without the usual delays and uncertainties.

Funding and Expansion

CarFirst attracted significant investment from both local and international investors. The company raised a lot of money in many investment rounds. This money let the company expand. It improved its technology and increased its marketing. The funding let CarFirst grow its network of inspection centers. It also lets them improve their services.

Operational Challenges

Despite its initial success, CarFirst faced several operational challenges. Scaling the business required big resources. They were for managing many inspections. They were also responsible for maintaining a logistics fleet and ensuring good customer service. Operations became more complex as the company expanded. This made it hard to keep them efficient and profitable.

Market Competition

The used car market in Pakistan is competitive and fragmented. CarFirst faced stiff competition. It came from traditional dealerships, informal networks, and other online platforms. These competitors had deep customer connections and local market knowledge. This made it hard for CarFirst to get and keep market share.

Economic Factors

Pakistan’s economic conditions played a critical role in CarFirst’s struggles. The country had economic instability. Inflation, currency loss, and changing interest rates hurt consumer spending power. These economic factors led to a decline in car sales. This decline affected CarFirst’s business volume and profitability. Also, the costs of importing car parts and running a large network increased. This strained the company’s finances more.

Trust and Transparency Issues

Building trust was hard. Traditional dealers and informal networks dominated the market. CarFirst worked to be fair and clear. But, it had to keep working to gain trust and overcome doubt. Ensuring consistent quality in inspections and offers was critical. But, any differences or bad customer experiences could erode trust.

Closure and Aftermath

In October 2021, CarFirst announced its decision to stop operations in Pakistan. The company cited economic challenges as the main reason for its closure. They also cited operational inefficiencies and intense market competition. The shutdown led to the closure of inspection centers. It also led to layoffs. It left many customers looking for other places to buy or sell their cars.

Lessons Learned

CarFirst’s journey in Pakistan provides several important lessons:

• Operational Efficiency: Scaling operations in a complex and competitive market requires careful planning. It also requires managing resources well.
• Market dynamics are key. Understanding local markets and customers is crucial. It helps in gaining and retaining market share.
• Economic Adaptability: Building resilience against economic fluctuations can help startups navigate challenging times.
• Building and keeping customer trust is essential for long-term success. It requires continuous work.

3. Cheetay

Cheetay, launched in 2015 by brothers Ahmad Khan and Majid Khan, made its mark as a well-known startup in Pakistan. Initially established as an online food delivery platform, Cheetay quickly found itself in competition with industry giants like FoodPanda. However, the company expanded its scope over time, venturing into the realm of grocery delivery, a move that gained significant traction, particularly during the COVID-19 pandemic.

Evolution of Services

As the demand for groceries surged, Cheetay initially employed a dropshipping model, facilitating the direct delivery of goods from stores to customers’ homes. Subsequently, the company pivoted to a quick commerce model, establishing dark stores to expedite deliveries and enhance overall customer experience.

Funding Milestones

In April 2021, Jabberwock Ventures, the parent company of Cheetay, secured $20 million in Series-B funding, underscoring investor confidence in the startup’s potential. While there were rumors of a larger investment specifically allocated for Cheetay Logistics, it was clarified that the funds were intended for all startups under Jabberwock Ventures, rather than solely for Cheetay Logistics.

Operational Challenges and Tough Decisions

Despite initial successes and significant investments, Cheetay found itself at a critical juncture after three years of operations. Facing operational challenges and economic headwinds, the company made the difficult decision to wind down its operations. This decision was precipitated by the inherent challenges associated with Quick Commerce’s high-burn business model and the limited demand for immediate grocery services.

Market Dynamics and Competition

Cheetay also encountered stiff competition in its restaurant aggregation business, particularly from FoodPanda, backed by substantial funding from DeliveryHero. The intense competition, coupled with economic uncertainties, exacerbated Cheetay’s struggles, ultimately leading to the cessation of its food delivery operations and the impending closure of all its services, including quick commerce.

Lessons Learned

The journey of Cheetay offers valuable lessons for startups:

• Operational Efficiency: Scaling operations in a complex and competitive market requires careful planning and resource management.
• Understanding Market Dynamics: Gaining insights into local markets and customer preferences is crucial for gaining and retaining market share.
• Economic Adaptability: Building resilience against economic fluctuations can help startups navigate challenging times.
• Trust and Transparency: Establishing and maintaining trust with customers is essential for long-term success and requires continuous effort and commitment.

4. Jugnu

Jugnu, a Pakistani startup founded in 2019 by ex-Unilever executives Sharoon Saleem and Yasir Suleman Memon, ventured into B2B e-commerce with the aim of digitizing and empowering small retailers. Building on their experience with Salesflo, a retail automation tool, the founders envisioned Jugnu as a platform to streamline inventory management and access to capital for retailers.

Vision and Services

Jugnu’s platform provided retailers with the tools to order and manage their inventory, offering a wide range of products from various suppliers. The startup’s services aimed to simplify supply chain management and enhance retail efficiency.

Funding and Expansion

With a total funding of $25.7 million across three rounds, including a significant Series A round of $22.5 million led by MENA-based e-commerce marketplace Sary, Sarmayacar, and Systems Limited in March 2022, Jugnu experienced rapid growth. At its peak, the startup had onboarded over 30,000 retailers across Islamabad, Rawalpindi, and Lahore.

The Downfall

Despite substantial funding and initial success, Jugnu encountered numerous challenges that ultimately led to the cessation of its core operations:

1. Investor Withdrawal: A significant setback occurred when an investor withdrew support from Jugnu, leading to financial difficulties that proved insurmountable.
2. Profitability Hurdles: The FMCG sector’s slim profit margins and high operational expenses posed significant challenges for Jugnu’s profitability.
3. Internal Mismanagement: Internal inefficiencies and mismanagement resulted in notable losses in inventory, primarily due to internal theft.
4. Work Culture Issues: Former employees highlighted a toxic work culture and unprofessional conduct from senior management as contributing factors to Jugnu’s downfall.

Transition and Closure

In response to these challenges, Jugnu announced a pivot away from its self-managed fulfillment centers, logistics, and inventory model. Instead, the company planned to leverage its tech and data suite to facilitate commerce and financial inclusion. However, this transition resulted in layoffs and ultimately led to the shutdown of the startup.

Lessons Learned

The story of Jugnu underscores the volatility of the startup landscape, where external factors like investor sentiment and internal issues such as management and efficiency play significant roles. Jugnu’s closure serves as a poignant reminder of the importance of sustainable business practices and the need for startups to adapt to shifting economic realities.

Conclusion

The stories of Airlift, Cheetay, and CarFirst highlight the blend of innovation and potential inherent in Pakistani startups, alongside the multitude of challenges they face. These ventures underscore the importance of adaptability, cost management, and a deep understanding of market dynamics. Economic instability, fierce competition, and regulatory hurdles often pose significant obstacles to their success.

Despite receiving substantial funding and experiencing strong initial growth, these startups ultimately succumbed to a myriad of operational issues and external pressures. However, their closures offer valuable lessons for future entrepreneurs.

Future startup founders can glean important insights from these failures, emphasizing the necessity of establishing a robust business model, differentiating themselves from competitors, and remaining prepared for economic fluctuations. While the closures are undoubtedly disappointing, they provide invaluable lessons that can guide future startups towards success in Pakistan’s dynamic startup landscape.

Achieving success in Pakistan’s startup ecosystem necessitates meticulous planning, meticulous execution, and a steadfast focus on addressing market needs. By internalizing the lessons learned from these closures, future startups can navigate the challenges more effectively and increase their chances of long-term viability and success.

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Maqsad, a Karachi-based edtech startup, has raised $2.8 million in a seed round, it announced today. Speedinvest, one of the largest seed funds in Europe, is leading this generation, and includes contributions from Indus Valley Capital, Stellar Capital, Alter Global, Johann Jenson (SVP Product at GoStudent) and others other angels. The startup said it raised a round and brought its total capital to date to $4.9 million. Maqsad has raised $2.1 million in seed funding in late 2021.

Founded in 2021 by Rooshan Aziz and Taha Ahmed, Maqsad aims to make education accessible to 100 million Pakistani students through an end-to-end mobile learning platform that provides tutorials, tests and quiz solutions for students in classes 9 to 12. month, Maqsad’s mobile application was downloaded over 1 million times, answered 4 million questions from students and continues to be ranked as the #1 teaching application in Pakistan on the Google Play Store, the source said and declaration.

The edtech platform seeks to disrupt the learning ecosystem by providing exceptional learning experiences for students at a low cost. The agency has collected feedback from 20,000 students and teachers across Pakistan to ensure that learning outcomes are achieved. Maqsad’s question-solving technology (“DoubtSolve”) and interactive research solve major problems for students who do not have access to good teachers.

With only one teacher for every 44 students, Pakistan has one of the highest student-teacher ratios in the world, a statement from the Karachi-based startup said. The edtech ecosystem can play an important role in solving various problems facing the country’s education sector, including the problem of student-teacher ratio.

“We recently improved our assessment plan, which allows students to confidently assess themselves, and have seen a consistent improvement of more than 150% month-on-month in the questions asked,” said the company’s official, Rooshan, in a statement.

Maqsad competes directly with local startups like Edkasa and Middle Eastern edtech platforms Noon and Abwaab, which have expanded in Pakistan in recent years. With its latest investment, Maqsad has become the highest-grossing community startup in Pakistan. It plans to use these funds to expand the theme offering and to improve the technology behind the platform. In addition, Maqsad’s long-term vision is to enter the education system, where the company has already received interest from private and public companies for partnerships.

Pakistan is an untapped edtech market, with annual spending expected to reach $37 billion by 2032. A quarter of that is spent on after-school education. , which is often expensive and difficult to obtain. The incoming investor Speedinvest is an experienced edtech investor, with Vienna-based GoStudent, an edtech unicorn, already in its portfolio. This investment in Maqsad demonstrates its potential to touch the lives of millions of students and transform the educational environment.

Philip Specht, Partner at Speedinvest, said in a statement,

“We like Rooshan and Taha as team builders and believe that Maqsad is on its way to becoming one of Pakistan’s most successful businesses.”

Indus Valley Capital, a venture capital investor, managed to double its funding, reflecting Rooshan and Taha’s vision for education in Pakistan. Indus Valley Capital founder Aatif Awan explained, “Investing in Maqsad again is a no-brainer as we have seen them bring together one of the best startup teams in Pakistan to create an original product that has helped over a million students.”

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According to the company’s official press release, Waada, an online insurance startup based in Karachi, has purchased a rival firm to become the largest insurance-tech startup in Pakistan.

Across an all-stock buyout, the business has acquired MicroEnsure Pakistan, a division of MIC Global with operations in South Asia and Africa. In addition to announcing the completion of a $1.3 million seed round from local angel investors and global venture capital firms, Waada did not disclose the deal’s worth.

Ishaq Kothawala, CEO and founder, stated that Pakistan has the lowest insurance penetration rate in the area at 0.7%. Technology, notably the development of the gig economy for agents and underwriters, can play a significant role in filling that gap. We now have the capacity to drive such innovation from the front thanks to this purchase.

With the use of Waada’s internal platform, anyone in the nation can virtually join up, view training videos, become qualified as a gig agent, and receive policies in just a few minutes—all without ever having to set foot on the company’s property. By lowering administrative expenses along the supply chain, this automation adds value and enables Waada to pay more commissions to agents and cheaper pricing to customers.

“Since insurance is about selling a promise about the future, building the trust necessary to deliver that promise is essential in the distribution process. The establishment of that trust in human interaction is essential to our fundamental nature. As a result, I think agents will always be important in the distribution of insurance.To enable agents to concentrate on selling rather than administration, it is necessary to automate every process, from underwriting to policy issuance, from leads management to commissions & claims,” he continued.

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ezBike, a vertically integrated electric mobility startup, said today that it has raised $1 million in pre-seed finance to help Pakistan migrate to electric vehicles.

i2i Ventures, Walled City, GroundUp, and significant angel investors in the United States, including a prominent tech millionaire, participated in the round. The money will be used to create a comprehensive electric two-wheeler ecosystem, which will include an electric scooter assembly factory, low-cost lithium-ion battery manufacture, and a network of battery switching stations. The startup wants to start selling electric scooters this summer and will first test its solution with one of Pakistan’s largest delivery companies.

ezBike, Pakistan’s first electric scooter sharing business, was founded by Mohammad Hadi, a former investment banker, and Ali Moeen, a software executive, and has over 100,000 customers and has become a household name in Islamabad. The success of its electric scooter sharing model highlighted the wider demand for economical and environmentally friendly transportation in Pakistan, and provided ezBike with the required knowledge to meet it.

“With 22 million legacy motorcycles, Pakistan provides a $20 billion market opportunity for two-wheel electric vehicles, and rising gasoline prices and air pollution levels make the move to EVs imperative,” said Mohammad Hadi, co-founder and CEO of ezBike. “Until now, that move has been impossible due to the high cost of electric vehicles, but our innovative solution will allow people to buy electric scooters for 80% less than identical petrol motorcycles and operate them for 50% less.” This will completely transform the market.”

“With 22 million legacy motorcycles, Pakistan provides a $20 billion market opportunity for two-wheel electric vehicles, and rising gasoline prices and air pollution levels make the move to EVs imperative,” said Mohammad Hadi, co-founder and CEO of ezBike. “Until now, that move has been impossible due to the high cost of electric vehicles, but our innovative solution will allow people to buy electric scooters for 80% less than identical petrol motorcycles and operate them for 50% less.” This will completely transform the market.”

Pakistan is currently experiencing a national emergency due to climate change and air pollution. It was recently listed as having the world’s second-worst air quality, with smog and respiratory ailments significantly deteriorating in major cities in recent years. The World Bank estimates that yearly economic losses caused by ambient air pollution in Pakistan exceed $1 billion. With transportation accounting for approximately 65 percent of emissions and motorcycles being by far the worst offenders, there is a pressing need to accelerate the transition to electric scooters. In reality, each motorcycle replaced will reduce carbon emissions by 300 kg each year.

“We are proud to back the ezBike founders as they focus on addressing the urgent and significant issue of climate change and pollution in Pakistan, while providing consumers affordable options to purchase and operate electric scooters,” said Misbah Naqvi, co-founder and general partner at i2i Ventures. We are thrilled about Hadi and Ali’s future plans since they have proven a profound understanding of the EV opportunity and how to satisfy the needs of the Pakistani consumer.”

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Markaz Technologies, an Islamabad-based Y-Combinator-backed firm, has received $2.4 million in seed funding from Indus Valley Capital.

Angel investors like Kyane Kassiri of Suya Fund and leaders from Careem, Deloitte, Amazon, and Gojek will also participate in the round. Markaz, which launched in the fourth quarter of 2021, is an online reselling platform that allows anybody in Pakistan to purchase wholesale products from throughout the country and sell them for a profit through their own social media stores on WhatsApp and Facebook, all while being at home.

By supporting these micro-entrepreneurs, Markaz is on a mission to supercharge the rails of ecommerce and make it accessible to the masses in Pakistan. Shoaib Khan, Fawad Hussain, Sameel Hayat, and Umair Aslam — four friends who have worked in large-scale tech firms such as Telenor, Amazon, Easypaisa, and Alipay in Pakistan and around the world – founded Markaz.

During Covid-19, the founders noticed that the majority of their peers were becoming more accustomed to purchasing online, with many of these transactions taking place through social media platforms such as WhatsApp and Facebook. The persons selling these things were mainly tiny business owners with minimal inventory who were running successful online businesses.

The founders spoke with more than 50 wholesalers and 300 entrepreneurs or resellers on the ground in Faisalabad and Lahore to learn how these merchants sourced products and how the entire supply chain operates. They discovered that while this parallel form of e-commerce via social media was growing quickly, it was hindered by inefficiencies such as product quality uniformity, delivery times, and payment methods.

This is when they decided to use Markaz to try to tackle the problems. These resellers can now obtain wholesale products from all around the country and profitably sell them through their own social media businesses on WhatsApp and Facebook, without having to invest in inventory.

The firm seeks to empower Pakistan’s middle class, with a particular focus on women from tier-2 cities, who are currently underrepresented in the country’s financial ecosystem, while also enabling hundreds of thousands of online micro-entrepreneurs. Markaz provides a fresh start for anyone interested in starting their own business and becoming financially self-sufficient.

“Markaz is built for all of Pakistan,” said Aatif Awan, Founder & Managing Partner at Indus Valley Capital, “with the objective of enabling folks in smaller cities & villages to source products directly from wholesalers and suppliers.”

“It’s something they didn’t have before.” Along the way, they will generate hundreds of thousands of micro-entrepreneurs and integrate them into the financial ecosystem, which will be genuinely revolutionary. “We at Indus Valley Capital are excited to be working with Markaz to assist them achieve their goals,” he added.

Following the successful funding round, the business plans to use the funds to expand and enhance its mobile platform, as well as improve user experience by improving delivery operations, payment processing, and customer service. In Islamabad, Lahore, and Faisalabad, the company is actively increasing its workforce by onboarding young talent from throughout Pakistan and providing them with the opportunity to work in a fast-paced and exciting startup environment.

Pakistan has a $170 billion retail sector, but just 2% to 3% of it is online, creating a substantial ecommerce opportunity. When it comes to shopping online, however, trust is a major worry, particularly among mass-market buyers. These individuals are accustomed to having human involvement in the majority of their transactions, and the founders feel that people in Pakistan buy from shopkeepers rather than from stores.

Markaz wants to establish a trustworthy platform and a community of resellers to make e-commerce easy and accessible for the majority of Pakistanis as the adoption of 4G-enabled phones grows. Anyone interested in starting an online resale business can use Markaz to explore and share over 10,000 products from a variety of categories to their social network businesses.

Resellers may then use the app to place orders on behalf of their consumers, which would be delivered to over 300 cities and villages across Pakistan for just Rs. 90. (per order). After delivery, the reseller’s profit on each sale, which they choose, is paid directly to their digital wallets like Easypaisa or JazzCash.

To give the best possible rates, all products are obtained directly from wholesale vendors. Markaz is building one of Pakistan’s largest and fastest-growing reseller communities, with more than half of its members being women. The Markaz App is currently available on Google Play, with an iOS release due in the coming quarters.

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The initial investment in the first half of 2021 was US$128 million, the highest level in any six months on record.

According to investment consulting firm AlphaBetaCore, seed funding from January to June exceeds the sum of funds raised in the past three years. In an infographic published on social media on Thursday, the company stated that e-commerce is the most funded sector.

According to reports, the settlement flow is 39 million US dollars. This reflects 30% of the total funds raised during the six-month period.

Fintech is the second most attractive industry, with a total of 30 million US dollars raised, accounting for a 23% share.

Half of the fintech funds are raised through formal electronic money platforms. Transportation, education technology and health technology, and “others” accounted for 16%, 10%, 7%, and 14% respectively.

The average size of banknotes per operation remained at 3.5 million U.S. dollars, three times the size of a year ago. During the period under review, the A round of financing has turned sharply, which means that the market for emerging companies is deepening.

The A-series funds obtained after the company established its track record accounted for 57% of the share, followed by seed funds (36%) and pre-launch funds (6%).

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Pakistan’s B2B e-commerce market Tajir successfully raised US$17 million in a round of financing led by the US venture capital firm Kleiner Perkins.

Fatima Gobi Ventures, Y Combinator Continuity Fund, Golden Gate, and other companies including AAVCF, Flexport, VentureSouq Liberty City Ventures, and other angel investors participated in this round of financing Ventures.

Tajir was founded in 2018 by two brothers Babar and Ismail Khan. The company’s goal is to target small family stores (called Kiryana stores) that have difficulty purchasing inventory through traditional wholesale channels.

Through the Tajir mobile app, small kiryana shopkeepers can purchase more than 1,000 storage units, including cooking staples, sandwiches, and biscuits. Special attention is paid to improving supply chain operations.

 Ismail emphasized the potential of Tajir target market, saying that 90% of Pakistan’s retail economy flows through these family stores. Tajir also claimed that they will help Kiryana shopkeepers increase their income by saving time.

The startup only provides convenience to small retailers in Lahore and other parts of central Punjab. But the company also plans to use the company’s latest round of financing to expand its business in Karachi. Venture capital firm Kleiner Perkins was impressed by the company’s excellent work and in her recent role called Tajir the “largest technology retail network” in Pakistan.

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Pakistan is one of the countries with the fastest growing middle-class population in the world, with 4G subscribers increasing by 720% in the past five years.

In January 2021, during the Covid-19 pandemic, the country registered 100 million Internet connections, but a large part of the population is still unconnected, and still use pencil and paper to track their transactions startup.CreditBook is trying to ensure that these people will not fall behind in this digital trend.

The Karachi-based company announced today that it has raised $1.5 million in seed funding from international and local investors. Investors include BitRate Venture Capital in Pakistan, VentureSouq in the UAE, Better Tomorrow Ventures in the United States, Ratio Ventures, Quiet Capital, Toy Ventures and i2i Ventures.

The founders of Indonesian digital accountants BukuWarung, Chinmay Chauhan and Abhinay Peddisetty, as well as Musha Ventures and Colombian delivery app Rappi also participated in this round of financing. This is also Better Tomorrow and Ratio’s first investment in Pakistan.

Founded by Hasib Malik, Iman Jamall and Hisham Adamjee, CreditBook aims to help micro-entrepreneurs digitize and track all their transactions. Its main function is digital ledger and accounts receivable and accounts payable tracking, similar to the services provided by India’s KhataBook and OkCredit.

CreditBook hopes to use the new funds to expand its users and product categories. According to the company, its registered user base has grown five-fold in the past six months, reaching 500,000.

“Before the launch in June 2020, we planned to use a combination of digital marketing and offline acquisitions. However, due to blockade restrictions, we adopted a purely digital strategy. We were surprised to see that there were more than Thousands of users log on to the platform and the total expenditure is less than $1,000,” Malik told AsiaTech.

Before obtaining this funding, the company received a small amount of pre-seed funding from individuals in Pakistan’s financial and retail sectors.

In addition to CreditBook, Pakistan has several other digital accounting companies, including Y Combinator graduate Udhaar.

In fact, the people of the country can also use Indian products such as KhataBook; however, CreditBook said its application supports six local languages, making it the most comprehensive application in the field. The startup currently has 15 employees, most of whom work in the field of technology and marketing. , Despite being the second largest entrant to the market, Malik recalled.

He added that although the team learned from similar apps in India and Indonesia, CreditBook pointed out that the product fits the market, making it relevant to the Pakistani environment.

“As we focus on growth and products through in-depth research and smart design decisions, our focus will always remain lean.”

Malik said that CreditBook has not yet monetized its products because the startup wants to focus on expanding its user base. At the same time, ensure that the trust of customers will not be compromised.

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OLX Pakistan conducted a online entrepreneurship training. The training was arranged for 28 business startups based in Peshawar from Wednesday, April 22 to Friday, April 24, 2020. The majority of startups who attended the online training sessions were with National Incubation Center Peshawar while few of them were also representing the Business Incubation Center based at the Institute of Management and Sciences Peshawar.

The workshop aimed at honing the entrepreneurial skills of these startups in terms of achieving optimization of their business operations through online technologies, analyzing data to benefit from business intelligence and to be able to market and sell their products and services to individual and business entities using online and offline mediums.

The training sessions, formally recognized as ‘OLX Startup Hotline’, were led by senior team members from OLX Pakistan to empower these young startups with the required skills and knowledge to be able to effectively navigate their businesses through tough economic times.

Three participating start-ups focused on the most unique and innovative work areas will also receive complimentary support from OLX Pakistan to advertise the OLX platform equivalent to the value of USD 20,000 in addition to exclusive mentorship by the OLX team for 3 months and brand consultancy support for one year. This is done by OLX Pakistan to help inspire a culture of entrepreneurship and innovation in the country with every possible support and inputs.

While talking about this initiative, Waleed Ibraheem, Monetization Manager at OLX Pakistan said,

“Staying up to date and learning new skills can keep these young start-ups ahead of their game, especially in a city like Peshawar. At OLX, we are focused on providing a platform for young entrepreneurs who dare to challenge the norms and attain growth for the prosperity of Pakistan and its economy. OLX Pakistan will keep striving to play its part for the betterment of Pakistan’s economy and its youth”.

Emphasizing the importance of these training sessions, Faisal Jamil, Director at National Incubation Center (NIC) Peshawar said,

“NIC Peshawar aims to build a thriving entrepreneurial ecosystem in Khyber Pakhtunkhwa. Over the past, NIC Peshawar has nourished startups in almost all types of business, which has transformed the entrepreneurial landscape of this region. We are grateful to OLX Pakistan in helping through such online initiatives and mentorship to make these young entrepreneurs become the future veterans of the industry”.

Such training programs focused on all urban communities across the country are most essential to building a solid entrepreneurial base in Pakistan so it can play an active role in supporting the economy and providing growth opportunities for potential entrepreneurs.

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