Co-working startup COLABS provides space and tech equipment for small and medium enterprises, entrepreneurs, and freelancers.
The Lahore-based company raised $3 million in a seed round. Three leading Pakistan-focused venture capitalists (VC) – Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures – are investing in a co-working startup for the first time.
In 2019, equity and venture investor Omar Shah founded COLABS. And his brother Ali Shah runs the real estate family company SABCON taking care of the interior design.
As Chief operating officer Fatima Mazhar said in the press release: “From the very beginning, COLABS has taken a different direction from conventional co-working spaces by creating a unique proposition in the market. Today, COLABS has a partner network of 100+ organizations involved in taking initiatives to boost the Pakistani startup ecosystem’s growth.”
The co-working startup also organizes events, networking forums, and startup facilitation. The aim is to create a dynamic community for local and international entrepreneurs alike. In addition, the company wants to support the Pakistani startup ecosystem, offering tech equipment and networking opportunities.
Following this seed round, the co-working startup wants to expand its offer to ìsoftware-based solutions and services to attract professionals outside the local network.
Despite COVID restrictions being lifted, remote models are a great solution for growing local startups into an international market. And the co-working startup works as a middle ground for companies and professionals.