5 major investment announcements at 021Disrupt
021Disrupt, the flagship conference of The Nest I/O, concluded in Karachi on November 11th. The conference hosted over 30 local and international institutional investors to kickstart a conversation on the investment ecosystem of Pakistan. The investors participated in a round-table and also engaged one-on-one with startups in a segment called Office Hours. During speaker sessions, several key announcements were made of recent and prospective investments in the ecosystem.
As they unfold, these announcements can prove to be transformative for the emerging economy of the country. Such global and local partnerships will not only project the potential of Pakistan as an innovation-rich region but will also open doors for similar announcements in the coming year.
1. Sastaticket.pk raises Series A funding led by Gobi Partners
SastaTicket.pk, an online platform for booking tickets at budget-friendly prices, has raised its Series A funding round of USD 1.5 million from the regional investment firm Gobi Partners. This marks Gobi Partners’ first investment in Pakistan, through their firm TaqwaTech focussed on investing Muslim ventures in the region.
2. ModulusTech signs an investment deal with Magnus Communications
ModulusTech, an alumnus of The Nest I/O has signed an investment deal with Magnus Communications. The contents of the deal remain undisclosed for now. ModulusTech will utilize the funding to expand its team and develop new engineering products for a global market.
3. Sarmayacar is setting up a USD 30 million fund for Pakistan
Sarmayacar has announced the first close of Sarmayacar Ventures, a $30M venture capital fund dedicated to investing in Pakistani startups. Domiciled in the Netherlands, the fund will invest $100K to $2M into companies primarily in the technology and technology-enabled sectors. The fund will be led by Founder & CEO Rabeel Warriach and International Partner Dr. Bernhard Klemen.
4. SparkLabs Global Ventures is coming to Pakistan in 2019
SparkLabs Global Ventures, the world’s third-biggest early-stage investment firm and the most successful tech investor in Asia has announced its arrival in Pakistan. SparkLabs Global Ventures has a presence in over nine countries around the globe. Sameer Chishty, Venture Partner at SparkLabs announced in his speaker segment, that SparkLabs Pakistan will be launched in 2019.
5. Google Accelerator is being brought to Pakistan by The Nest I/O
The Nest I/O, a Google for Entrepreneurs Partner technology incubator is bringing Google Accelerator to Pakistan. The Accelerator will provide local startups an access to tools and mentorship from the global network of Google. The accelerator will be open to all technology startups from Pakistan and not restricted to The Nest I/O community.