According to a recent statement issued by Punjab Information Technology Board (PITB), Pakistan’s chief technology accelerator, PlanX startups raised revenue $743,807 (PKR 77 million). As a result, it created as many as 517 jobs in Pakistan.
The whopping amount of $743,807 was amassed from a vast pool of 4,491 customers. It is pertinent to mention that 4 PlanX startups also raised a seed funding of colossal $795,000 in 2016.
The statement of PITB further added that PlanX enrolls startups on a continuing basis. As far as applying at the time of acceleration is concerned, startups can apply at any point of time.
Four PlanX Startups that Raised $795,000 in 2016
The first PlanX alumni startup which secured the funding in 2016 was Travly. It managed to raise a massive funding of $200,000 from CresVentures. Surprisingly, the second funding also came into effect in the same month when a women-led startup, BeautyHooked, accomplished a funding of $280,000. The investment took place in a seed round and it was led by Fatima Ventures.
PlanX secured couple of more investments last month in December 2016. The first in the month and effectively third PlanX alumni startup to raise seed funding was MangoBaaz. They gained a sum of $115,000 and it was also led by Fatima Ventures.
The latest addition in the PlanX alumni startup was when their widespread and well-known startup, Patari closed the year and raised $200,000. The funding was led by Sarmayacar.
As per the statement of PITB, the funding raised in 2016 will open new avenues of opportunities for PlanX startups. Moreover, it is also expected that 2017 will notice more investments from different ventures.
Founded in 2014, PlanX aims to close the gap between business and technology. Another key objective of PlanX is to empower commercially viable mid-stage technology startups by providing access to multiple funding channels, specialized network of mentors and global exposure to establish high impact businesses.