EOY 2023 Roundup

The year 2023 was slow in terms of the investment activity compared to 2022. The first half of the year was marked by an uncertain macroeconomic environment for Pakistan and news of Medznmore’s closure and Jugnu’s pivot reinforced this narrative. However, Q4 2023 saw a significant surge in fundraising activity, with 150% growth in the fundraising amount and deal count when compared to the same quarter of the previous year with 6 deals and $15 Million raise. Prominent deals during this period showed more confidence by investors in the Pakistani startup ecosystem, which ended the year on a positive note, hopefully signaling more growth in 2024.

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