Achieving a milestone, Lahore-based startup Colabs secured $2 million in Pre-Series A funding. This brings their total venture capital funding to over $5 million. With a mission to support small and medium enterprises, entrepreneurs, and freelancers, Colabs provides spaces and a tech platform for business growth.
Co-founder Omar Shah stated, “This funding allows us to expand our presence in the vibrant MENA market, focusing on Saudi Arabia’s booming entrepreneurial ecosystem.” The company already has over 10 locations, 5,000 members, and partnerships with industry giants like EY, Spotify, and Google Cloud.
Despite facing challenges in the coworking industry, Colabs stands out as the only space in Pakistan to secure such funding post-WeWork crash. Supported by investors like Shorooq Partners and Indus Valley Capital, the startup remains resilient in Pakistan’s tech landscape.
Noteworthy is Colabs’ commitment to community development, offering free workspace during turbulent times and launching initiatives like “Google Cloud for Startups” for nationwide support in data transformation and cybersecurity.