Three of the largest startups in 2022 were: Bazaar ($70m), Retailo’s ($36m), and Jugnu ($22.5m).
Despite the COVID-19 repercussions, Pakistani companies raised $163 million in 15 deals in the first three months of 2022.
According to Invest2Innovate, a Pakistani consulting business, the industry raised more than half ($350 million) of the total amount raised in 2021.
In the first quarter of 2021, $22.2 million was raked up, according to Kalsoom Lakhani, the founder of Invest2Innovate and general partner at its sister business i2iVentures. She went on to say that B2B e-commerce raised the majority of the funds. Bazaar ($70 million), Retailo’s ($36 million), and Jugnu ($22.5 million) were the three largest publicly announced startup fundraising rounds in 2022.