Lahore-based Colabs has raised $3 million in a seed round led by Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures, it announced in a statement on Friday. It is the first time these three leading Pakistan-focused VCs are investing together in a startup, noted the statement. Colabs had previously raised $1 million in a pre-seed round. The round was also joined by Shorooq Partners, Kinnow Capital, Muir Capital, Sai Ventures, and a few angel investors including Turner Novak, William Hockey, and Teddy Himler.
Founded in 2019 by twin brother; Omar and Ali Shah, Colabs enables startups and freelancers to build and grow their businesses through its coworking spaces and different other services. The startup had started with one of the largest coworking spaces in the country and has quickly grown to become an important player in the local ecosystem with offerings like business incorporation, educational bootcamps, and back-office solutions, including talent sourcing and management, payroll management, and legal and tax compliance.
With the latest funds, the Lahore-based startup now wants to build a tech layer on top of all these offerings to offer them to startups, freelancers, and other businesses all over the country.
Omar Shah, co-founder and CEO of Colabs, said, “We had founded Colabs to help accelerate the Pakistani startup ecosystem and we’re very proud of what we have achieved in a little over three years. Even though we’re mainly seen as a coworking operator,...
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