COLABS Raises $2 Million in Pre-Series A Round

Pakistan’s co-working platform COLABS has raised $2 million in a pre-Series A round led by UAE’s Shorooq Partners and with participation from Saudi Arabia’s Waad Investment. The funds will be used to open a campus in Saudi Arabia as the company prepares for a Series A round next year, according to CEO Omar Shah. This brings COLABS’ total funding to over $5 million. Previous investors include Indus Valley Capital, Zayn Capital, and Fatima Gobi Ventures. Founded in 2019, COLABS has 5,000 seats across 10 locations and over 300 employees. Its revenue has grown fivefold and has been profitable since 2023. Existing locations see 40-50 percent margins. CEO Omar Shah said Saudi Arabia’s Vision 2030 offers strong potential for expansion, and increasing venture capital interest. COLABS is the only Pakistani coworking space to raise VC funding post-WeWork collapse and has attracted top investors like Indus Valley Capital and Fatima Gobi Ventures. COLABS also partners with Google Cloud and the Pakistan Air Force to manage a 1,000-seat facility for aerospace companies.