businessNews

Top Four Lucky Pakistani startups that raised more than million dollars of funding in the last few weeks

Top Four Lucky Pakistani startups

October has been a lucky month for startups. Many of them received huge funding in the previous weeks. The Pakistani startup industry has been growing exponentially with incubation centers and software technology parks being established in collaboration with universities.

This is helping students and professionals polish their ideas and make products that fills a market gap. During uncertainties posed by the Coronavirus, startups getting funding is nothing short of a ray of hope for the startup industry. Today we will give you an overview of the startups that have shattered blocks by receiving funding in October 2020:

Also readA Pakistani version of Netflix is in the making, announces Fawad Chaudhry

1. Healthwire:

Funding raised: $700,000
Founders: Hamza Iqbal
Nature of funding: Seed round
Funded by: 47 Venture Investments

Healthwire is a health-tech startup. It is focused on aggregating all stakeholders of the healthcare ecosystem on its platform allowing them to provide a smooth digital healthcare experience to their patients.

Their model is based on providing patients healthcare through remote connections with doctors. It is one of the most widely deployed eHealth platforms in Pakistan. It also consists of a hospital management system allowing the digitization of health records, appointments, etc.

The startup easily managed an investment of $700,000 from 47 venture Investments.

2. Retailo:

Funding raised: $2,300,000
Founders: Talha Ansari, Mohammad Nowkhaiz, and Wahaj Ahmed
Nature of funding: Pre-Seed round
Funded by: Shorooq Partners, 500 Startups & 92-Ventures

Retailo is a B2B e-commerce platform aiming to empower SMEs in the Middle East, North Africa, and Pakistan (MENAP) region. They offer competitive pricing and a marketplace where they can discover products and then order for their inventories.

The MENAP region is home to 700 million people and 10 million SMEs which gives their business model a huge market to play with.

Retailo received $2.3 million in a Pre-Seed round led by MENAP’s leading seed-stage VC, Shorooq Partners, along with 500 Startups and 92-Ventures.

3. MedznMore:

Funding raised: $2,600,000
Founders: Asad Khan and Saad Khawar
Nature of funding: Seed round
Funded by: Undisclosed

MedznMore is a health-tech startup hoping to tackle problems with pharmacy retail in Pakistan with an emphasis on identifying counterfeit drugs. They integrate technology to ensure that they get authentic medicine and their platform provides easy access to medicines right at your doorstep.

They have acquired $2.6 million in funding from an undisclosed source.

4. FindMyAdventure:

Funding raised: $600,000
Founders: Husnain Habib Malik, Khawaja Raza Abbas, Komail Naqvi, Shozab Naqvi and Syed Haider Raza
Nature of funding: Pre-Series A round
Funded by: Undisclosed

FindMyAdventure is a marketplace, one of Pakistan’s first, for people to search, compare, discover, and book trips, tours, and travel experiences across Pakistan at any price point. There are many travel advisors today but there isn’t a central platform that showcases all of them. FindMyAdventure hopes to tap into this market.

Also read: MedznMore the Pakistani healthtech startup raises $2.6 million in seed funding

They managed to bag $600,000 in investment despite facing many challenges during the COVID period.

It is really good for Pakistan and its economy that the startup culture is beginning to pick up the pace. This is a widely untapped market in Pakistan which has the potential to boost our economy manifolds. This is inevitably how Pakistan can become the IT hub of Asia as we are not short of any resources.

Sohail Shahid
the authorSohail Shahid
Web Editor (Business research Analyst)

Leave a Reply