Pakistani fashion startup Mezaaj raises investment at $500,000 valuation
Pakistani fashion startup, Mezaaj raised an undisclosed amount of seed capital from a private investor Arshad Latif at a total valuation of US $500,000. The startup plans to use the money for marketing and expansion of its incubation program across Pakistan. Meanwhile, Arshad Latif becomes a strategic partner of the startup to help it grow to the next level.
Meezaj, currently incubated at Plan9, offers a platform to fashion and textile design students where they can showcase their work on an international level. Students from local universities are inducted to a 3-month incubation program to receive mentoring from business and fashion executives. After the incubation cycle, all approved designs from emerging artists are sent into production and listed on Mezaaj’s portal. Moreover, the startup makes sure that the designs reach a massive audience through social media channels. Mezaaj also provides emerging artists an opportunity to partner with local retail stores to display their work as products in cities across Pakistan.
Recently, BookMe and TheSmacFactory, both incubated at Plan9, also raised huge investments at significant valuation amount which is a good PR for the government-backed incubator. Moreover, Plan9 has been spending a fortune in advertising for its major startups in both print and digital media. Though, it should be noted here that Mezaaj valuation is a lot less than BookMe (valued at 4 million dollars) and TheSmacFactory(valued at 2 million dollars).
Image Credits: Mezaaj