Pakistan’s Tech Startup Ecosystem Faces Major Crisis

 

• Trend: Over 55 funded startups have shut down or pivoted since 2021. Ride-hailing giant Careem is also exiting Pakistan by mid-July.
• Funding Collapse: Startup funding dropped from $355M in 2022 to just $43M in 2024.
• Causes: Currency depreciation, inconsistent tax policies, poor infrastructure, and investor flight have crippled the ecosystem.