Lahore-based Colabs, a coworking platform supporting small and medium enterprises, entrepreneurs, and freelancers, announced it has raised $2 million in a further pre-Series A funding round. This addition brings Colabs’ total venture capital raised to over $5 million, backed by prominent investors.
According to co-founder Omar Shah, the new funding will support Colabs’ entry into the MENA region, particularly targeting Saudi Arabia’s dynamic entrepreneurial landscape. “This funding marks a pivotal moment for Colabs as we set our sights on the vibrant MENA market,” Shah stated, noting Saudi Arabia’s promising opportunities for growth and business collaboration.
Operating across more than ten locations with over 5,000 members, Colabs has established partnerships with international companies such as EY, Endeavor, Spotify, and Google Cloud.
The latest funding round aims to expand Colabs’ operations into Saudi Arabia, where the company seeks to foster a culture of innovation, networking, and community. Despite the global coworking sector’s challenges, Colabs remains the only coworking company in Pakistan to have secured venture capital funding post-WeWork.
In the face of limited governmental support and economic hurdles, Pakistan’s IT and tech industries have demonstrated resilience. Colabs has contributed to this resilience by offering free workspace and internet access during periods of hardship. Recently, the company partnered with Google Cloud to launch “Google Cloud for Startups,” offering startups nationwide sessions focused on data transformation, generative AI, and cybersecurity.
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By Proptechbuzz
By Ravi Kumar
