Entrepreneurs and independent workers in Pakistan can now effortlessly establish and expand their businesses, thanks to Colabs securing a $3 million seed investment.
Colabs Secures $3 Million Seed Funding, Plans Nationwide Expansion
In a significant move for the Pakistani startup ecosystem, Colabs, a Lahore-based flexible workspace provider, has raised $3 million in a seed round. This marks the first time that leading Pakistan-focused VCs, Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures, are investing together in a startup.
Founded in 2019 by twin brothers Omar and Ali Shah, Colabs provides coworking spaces and a range of services to help startups and freelancers build and grow their businesses. Over the past two years, the company has hosted over 250 startup events in Pakistan, attracting over 200,000 visitors to its facility.
Colabs currently has multiple facilities in Lahore with over 100 companies operating from its spaces, creating a vibrant community for innovators. With the latest funds, Colabs plans to build a tech layer on top of its offerings to provide them to startups, freelancers, and businesses nationwide.
Aatif Awan, Founder and Managing Partner of Indus Valley Capital, expressed excitement about partnering with Colabs to help build the leading platform for the Pakistani tech ecosystem. Faisal Aftab, Co-Founder & Managing Partner of Zayn Capital, spoke about closely watching Colabs' growth and being fortunate to have met some of the startups they invested in at Colabs' spaces.
Colabs had previously raised $1 million in a pre-seed round. Both Indus Valley Capital and Zayn Capital expressed excitement about joining Colabs' journey in serving tens of thousands of founders and freelancers across Pakistan. The company plans to have a community of over 10,000 members in the next two years and aims to expand across Pakistan, starting with co-working spaces in Karachi and Islamabad.
In addition to coworking spaces, Colabs offers services such as business incorporation, educational bootcamps, back-office solutions, talent sourcing, payroll management, legal, and tax compliance. The startup is also known for its initiatives like Cogrow, an online platform for startups, investment firms, and tech jobs.
While specific details about the use of $3 million seed funding are not available, potential uses could include expanding to new cities, enhancing amenities and services, community-building initiatives, and partnerships and ecosystem development. Colabs has a network of 100+ ecosystem partners across universities, VC funds, corporates, government, and industry leaders, aiming to redefine the future of work in Pakistan.
With this latest funding round, Colabs continues its mission to knit together a community of 100,000 entrepreneurs across Pakistan. The startup's growth and success are a testament to the potential of Pakistan's tech ecosystem and a promising sign for the future of startups in the country.
Technology will be integrated into Colabs' offerings to provide services nationwide. The startup aims to expand its community of entrepreneurs, reaching over 10,000 members in the next two years, using the $3 million seed funding.
