It seems like every other day brings the news of another startup taking cost-cutting measures in the middle of the economic recession. Whether it be downsizing or closing down operations in some areas, the startup industry of Pakistan is taking a major hit because of the global downturn of events.
Dawaai is the latest addition to this list after closing operations in Hyderabad. As a result of this decision, at least 35+ employees were laid off at once. The company has yet to release an official statement regarding the layoffs but several ex-employees have taken to LinkedIn to share the sad news and look for other opportunities.
Dawaai has raised a total of $9.5M in funding over 7 rounds with 500 Startups and Sarmayacar Ventures being the major investors but even that couldn’t help them against the extreme economic conditions we are currently facing.
Headquartered in Karachi, Dawaai was founded in 2014 and currently has multiple fulfilment centers across the country. There is no clue if operations in any other city were also closed.
We will update this space with more information as we receive it.