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The tech startup sector in Pakistan has had a rough year 🌪️ with investment plunging 47% quarter-on-quarter and 68% year-on-year to $55.4m in Q3 2022 - the lowest level since Q1 2021
@bznotes @nighatdad @xParacha @ZahidLilani @rehanallahwala @kalsoom82 @aatif_awan 1/7
@bznotes @nighatdad @xParacha @ZahidLilani @rehanallahwala @kalsoom82 @aatif_awan 1/7
This is particularly concerning considering that 2021 saw record investment of $366m in the country and local startups raised over $174m in Q1 2022. 2/7
It's clear that the changing global macros 🌍 combined with Pakistan's economic crisis and the uncertain resumption of the International Monetary Fund programme 💰 have had a major impact on the sector. 3/7
