Fatima Gobi Ventures led a pre-seed fundraising round for Inventhub, a secure web-based collaboration platform for electronics product creation in Pakistan.
Ahmed Habib of Venture.d, Shehryar Hydri of Deosai Ventures, Yasser Bashir of Arbisoft, and Abbas Yousafzai of ConradLabs were among the new investors that attended the pre-seed.
Shoaib Zahid, Kashif Shakoor, and Anees Khawaja of Walled City Co, Tim Draper of Draper University Ventures, Taimur Rashid of Redis Labs, and Tayyab Malik of UBS Hong Kong are among the existing investors who have returned to support the company in this round.
In the last two years, Pakistan has experienced a surge in interest, with Bloomberg reporting that Pakistani entrepreneurs raised over $300 million in 2021 alone. However, much of the prior fundraising frenzy was focused on high-volume, mass-market areas like e-commerce, logistics, and fintech.
The latest round of funding from Inventhub shows that Pakistan’s startup ecosystem is progressing at a rapid pace, with firms in the advanced to deep tech categories receiving funding momentum.
Inventhub was founded in 2019 by hardware product designer Usama Abid and software developer Usman Maqsood with the goal of democratizing the electronics product design process, resulting in higher product quality and shorter time to market.
Inventhub’s co-founder and CEO, Usama Abid, stated, “The electronics industry is made up of fragmented and siloed processes, making it difficult for individuals and smaller startups to develop new products. The explosion of digital products has also led to a new level of personalization and customization. Managing the necessary steps – from components procurement and design, to manufacturing, assembly, and distribution – is time-consuming and complex.
Furthermore he added, “Inventhub is here to change the game for developers: providing a remote-based collaboration of electronics design resources, improving productivity as well as streamlining data organization and shareability. Now, multiple designers, developers and project owners can work cohesively across different project components including bills of material and partner resources.”
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