This has been a blissfully happening year for the start-up industry in Pakistan. Start-ups, and all the relevant segments of the industry: incubation centers, investors, venture capitals etc, all gained momentum. As observed by industry’s first ever trend watch spear headed by PakWired, the start-up industry’s journey of success through the year, began with Patari‘s win of the Startup Cup in January 2016. Interestingly, it is again Patari – our homegrown largest content library of Pakistani music collated in one place – that has come forward to finish off the year with a remarkable knock.
This time around the start-up has more news to share other than the performance achievements. The start-up has secured seed stage investment with a syndicate of investors who invest in and promote Pakistani startups.
Sarmayacar, with the slogan of “We Back Pakistani Start-ups” is global network of investors pooling together to invest in and promote local startups. The network focuses on angel and seed stage of start-ups originating from Pakistan and claims to provide flexible investment structure with partnership approach. The preference, it say, is for large addressable markets and scalable business models. The network brings together a collaborative minority partner approach, international investing experience, and an extensive collective network to support promising early stage companies originated in Pakistan.
Patari, on the other hand, the most popular start-up to come out of Pakistan lately, is a music streaming service that has been recipient of several national and international awards. Launching its beta service in April of 2015 via a guerrilla marketing campaign, the platform went live in September of 2015, rolling out mobile apps for iOS and Android in addition to its web presence. The service’s real claim to fame has been its stringent compliance to copyright laws, and winning over the artist community after announcing Rs. 1.25 million in royalty payouts.
Patari is the first digital partners from Pakistan in tech giant Facebook’s F8 program, which has facilitated greater compatibility for Patari products within the framework of Facebook platform.
Patari, a Plan9 start-up, will announce the investment details in a signing event at Plan9, Lahore this Friday 30th December. The signing ceremony is going to feature Patari’s team, including its founders and current employees. It will also be attended by Dr. Umar Saif, Chairman PITB; Nabeel A. Qadeer, Director Entrepreneurship and Enterprise Development; as well as Rabeel Warraich, the founder of Sarmayacar.
From the platform of PakWired, we wish Patari all the best.