In 2024, Pakistan startup ecosystem saw a major drop in venture capital funding, falling 70% to just $22.5 million compared to $75.8 million in 2023. The number of deals also declined sharply by 61%, from 39 to 15. However, the average deal size increased to $3.75 million, showing a shift toward larger, more selective investments.
Early-stage funding dominated, with Pre-Series A and seed rounds making up most of the capital. No Series B rounds occurred. Male-led startups secured over 75% of funding, with no capital going to female-founded startups.
Debt financing provided some relief, raising $20.5 million across 28 deals—mostly in fintech and e-commerce. Mergers and acquisitions also declined, with only five domestic deals recorded.
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Despite this funding slump, Pakistan’s tech sector showed strong growth. The ICT sector grew 8.5%, and exports rose 33.7% to $3.6 billion, driven by computer and telecom services.
