Lahore-based co-working space ‘Colabs’ raises $2m

Colabs operates vast network comprising 5,000 seats across 10 locations, and over 300 employees
An undated image of  co-working space Colabs. — Colabs
An undated image of  co-working space Colabs. — Colabs

Colabs, Pakistan’s leading co-working platform, has secured $2 million in a pre-Series A round led by UAE’s Shorooq Partners and announced its plan of expansion into the Saudi market, as per a statement released on Thursday (October 24).

Founded in 2019, the Lahore-based co-working space is aimed at developing an innovative business model designed to simplify business operations in Pakistan.

Currently, Colabs has around 5,000 seats across 10 locations and over 300 employees and partnerships with companies like Endeavor, Spotify, and Google Cloud, emerging as a key player in the country’s tech and venture capital ecosystem. 

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Colabs campus in Saudi Arabia

Building on its success in Pakistan, Colabs expands to Saudi Arabia, an emerging market of innovative startups and ambitious entrepreneurs, providing infrastructure and support to startups, freelancers, and entrepreneurs.

Following this funding of $2 million, Colabs’ total investment exceeds $5 million. These funds will be used to open a Colabs campus in Saudi Arabia.

“This funding marks a significant milestone for Colabs as we expand our reach into the MENA region with a particular focus on Saudi Arabia’s flourishing entrepreneurial ecosystem,” said Colabs CEO Omar Shah.

Despite challenges in the global co-working industry, Colabs stands out as the only coworking platform in the country to raise venture capital funding by attracting top-tier investors, including Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures in the past.