COLABS, a business incubator in Pakistan, has raised $3 million in funding with the goal of becoming a launchpad for entrepreneurs and freelancers.

COLABS, a coworking space in Lahore, has secured $3 million in a seed round, with the goal of becoming a launchpad for companies and freelancers.

Pakistan-focused funds Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures led the seed round. Shorooq Partners, Kinnow Capital, Muir Capital, Sai Ventures, and certain prominent angels such as Turner Novak, William Hockley, and Teddy Himler also participated in the round.

Colabs were founded in 2019 by Omar Shah, former private equity and venture capital investor, and his twin brother Ali Shah, who runs SABCON, a long-running family-owned real estate and development firm that develops and builds out COLLABS buildings. "COLLABS has developed into a community of over 1,200 members and over 100 firms in Pakistan, spanning numerous venues."   

COLABS is currently home to a mix of freelancers, startups, SMEs, and multinational corporations. COLABS has grown its presence in Karachi since its flagship location in Lahore and has just secured a license from the Special Technology Zones Authority (STZA) to establish a coworking space in Islamabad. 

COLABS intends to use the new funds to expand its technology solutions and productized services to people and institutions outside of its network, as well as to hire new employees for the next phase of growth. COLABS hopes to expand its capacity to 10,000 members within two years, and then to 100,000 members over the next four years.