Tuesday, 19 July 2016

This Pakistani Startup Raised Rs. 75 Crore in Funding and Everyone Thinks its a Lie

An entrepreneur from a small town called called Ali Pur Chattha near Gujranwala founded a startup called sabzi.pk, an online store that sells fruits and vegetables and currently operational in Lahore. This startup was housed at LUMS Center for Entrepreneurship, and what is surprising is, this startup has announced its seed funding that values $7.5 million. Many experts and bloggers are surprised to hear this news thinking how such average idea can fetch this much funding.

CEO of Sabzi.pk, Farooq Haider, seems very confident while saying;
We had multiple offers for the six figures seed capital investment we were seeking but decided to go with the investors we thought most complemented our business from a strategic standpoint. The capital will primarily be used to build HR capacity, streamline our supply chain and customer relationship operations and marketing the sabzi.pk brand.

However, people from startup ecosystem are criticizing such a grand figure and are showing doubts over the authenticity of their press release. Many have trolled this news saying they are simply manipulating this figure to market their website this way.

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