Islamabad, Oct 18: Startups Attract Significant Investor Interest, Surge in Funding Opportunities for Innovative Ventures. At the four-day Extend North Star international startup show, which ended in Dubai on Wednesday, Pakistani startups left a lasting impression.
These firms attracted a lot of interest from foreign investors by showcasing their creative solutions, indicating strong development potential for Pakistan’s developing tech sector. The occasion gave Pakistani businesses a worldwide stage on which to showcase their solutions in the fields of sustainability, e-commerce, health technology, and fintech.
“Our startups Attract and held productive meetings with investors and other startups, allowing them to evaluate whether their direction is correct,” said Muhammad Umar Akram, project director for the tech fund Ignite, praising the event’s influence on Pakistani startups. Many relationships that can assist generate future investments were created in the Investor Lounge.
He mentioned that Robotech held important meetings with healthcare startups and that Cargo Tech placed in the top 10 of a competition with Nigerian startups. “They discovered that their solutions are ten times less expensive than those found on the global market. They now know if they are headed in the correct path or if they need to change course,” he continued.
Umar noted that local businesses and venture capital firms visited Gitex Africa and Berlin, both of which welcomed Pakistani startups to attend their events, highlighting the growing interest in fintech. “Pakistani fintech businesses also attracted the attention of UAE banks, and one of them raised $6.9 million last year. We intend to increase our involvement next year with additional entrepreneurs, particularly in the finance sector, and a larger venue,” he stated.
“I said.” A notable participant was the drone manufacturing business Skytech Inn. “A US-based venture capital firm has approached us and we are set to secure $1 million investment for a 5% stake,” said Muhammad Muzammil Shahzad, the company’s CEO. The last meeting is scheduled for October 28.
The company will be able to boost manufacturing capacity and hire more people thanks to this investment. Muzammil also emphasized the Saudi Arabian leads they obtained. In the meantime, investors from the US, UAE, and EU expressed interest in Porter Pakistan, a travel firm. Co-founder Aurangzaib stated that they received indications of increasing the investment at the event and that their goal was to raise $100,000 in order to expand in Pakistan before moving on to Saudi Arabia and the United Arab Emirates.
“Technology and market potential are the main attractions for investors and we’ve built strong connections here to enhance our startup,” he stated. GrowUp Tech Solution attracted a lot of attention at the Pakistan pavilion. CEO Muhammad Shahmir expressed how happy they were to be commended by Japanese tech firms. “After securing investment at Gitex London, our presence here attracted more interest from investors and tech experts,” Shahmir disclosed, adding that the company has now incorporated in Dubai to enable global expansion.
