Tazah began as a marketplace where businesses, particularly micro-retailers, could buy fresh fruits and vegetables. Tazah sources fresh produce directly from farmers, sorting and grading it in its warehouses, and then delivering it to retailers.
The startup, which debuted in August 2021 and has thousands of users across Lahore and Karachi, has already grown to a yearly Gross Merchandise Value (GMV) of $7 million, with a big consumer base and a high percentage of recurring consumers.
The business plans to use the fresh cash to expand its operations in Karachi and Lahore, as well as expand into new locations and upgrade its technology.
Tazah Technologies, a Lahore-based B2B fresh produce marketplace, has received $4.5 million in a pre-seed extension round, increasing the total pre-seed fundraising to $6.5 million.
Tazah raised $2 million in its first pre-seed round in October. Pakistan’s Fatima Gobi Ventures (FGV) and Vibe Capital, based in the United States, led the extended round.
Shorooq Partners, Nuwa Capital, Ru-net, Alter Global, Julian Capital, Kinnow Capital, Early Grey Capital, and K3 Fund also participated in the round. Angel investors from Silicon Valley participated in the round, including Sahil Bloom, Siqi Chen, and Matt Brezina, among others.
This would be Nuwa Capital’s first investment in Pakistan. Nuwa Capital is one of the largest funds in the Middle East. Existing investors such as Global Founders Capital, Zayn Capital, i2i Ventures, and noteworthy angels re-invested in the round as well.