Pakistani startups shine at LEAP 2026 in Riyadh
The Tech Destination Pakistan Pavilion at LEAP 2026 featured 25 startups and more than 50 technology companies, and it produced concrete wins. Edtech startup Edversity secured a $400,000 investment from Rapidev Group to fund international expansion, while business automation firm OfficeFlow AI signed incubation and partnership agreements with Saudi players Dhahran Techno Valley and MIS Arabia. Pakistan and Saudi Arabia also signed an agreement to deepen cybersecurity cooperation.
Pakistan-based Metal raises $4.5 million seed
Metal, a Pakistan-based startup building AI software for private-capital fundraising, raised $4.5 million in seed funding led by a16z Speedrun and Y Combinator, with participation from Indus Valley Capital and others. Founder Usman Gul, who previously co-founded Airlift, says the company has posted six straight quarters of strong sequential growth and is on track for multimillion-dollar annual revenue.
5G auction raises $507 million as digital stack launches
The federal government raised $507 million in its 5G spectrum auction, selling 480 MHz of spectrum to Jazz, Zong and Ufone — a 1.7-times jump in the country's total spectrum capacity. At LEAP 2026, IT Minister Shaza Fatima Khawaja framed the auction as proof of the National Digital Stack: Pakistan's push to pair infrastructure investment with a dedicated digital agency, measurable targets and an enabling environment for private-sector growth.
