The proceeds will assist LAAM’s regional expansion into the Middle East. The Company intends to establish an operational center in the region – which will serve as a strategic hub for processing global orders – and grow its regional network of fashion artisans; spotlighting their products on the global stage.

With sales spanning 100+ countries and an ever-growing catalog, LAAM’s rising international presence is a testament to the strong connection that it has developed with fashion enthusiasts worldwide. LAAM’s top markets include the Middle East, US, Canada, the UK, and Pakistan.

Global revenues of the South Asian ethnic wear market are projected to reach $129 billion by 2030, with nearly $46 billion driven by digital spending.

Arif Iqbal, CEO of LAAM Technologies, said, “We are delighted to secure this funding from Disrupt.com, Zayn VC, Graph Ventures, and Mentors Fund, using the proceeds to drive LAAM’s Middle East expansion and help spotlight the talented artisans operating across the region. Our cutting-edge, AI-driven, tech and the timeless appeal South Asian craftsmanship helps create a seamless connection between global consumers and authentic ethnic fashion. We look forward to supporting the Middle East’s dedicated artisans, empowering them to thrive in the digital age.”

LAAM is a leading platform for South Asian fashion, offering a curated catalog of over 100,000 articles from 1,000+ brands—the largest collection of its kind globally. By bridging cultural heritage with cutting-edge e-commerce, LAAM has become a key player in empowering South Asian designers and artisans while supporting the livelihoods of over 10,000 families.

LAAM has developed a robust e-commerce infrastructure, encompassing supply chain solutions, seller business management software, and warehousing capabilities. Beyond its marketplace business, LAAM Technologies now offers this proprietary technology and infrastructure as a platform called Octane, designed to help businesses establish an online presence and expand globally. Currently supporting over 50 businesses, Octane aligns with LAAM’s mission to empower South Asian sellers and is positioned for significant growth in the coming year.

Through its efforts, LAAM empowers small and medium-sized sellers in Pakistan to access international markets, making South Asian fashion more accessible while celebrating its rich heritage.

“LAAM’s ability to elevate South Asian fashion onto the global stage while empowering local artisans and sellers is commendable. We believe LAAM has a unique opportunity to transform how South Asian fashion is perceived and accessed globally. We’re proud to support their journey” said Faisal Aftab, Managing Partner at Zayn VC.

The success of LAAM is deeply rooted in its exceptional founding and leadership team, which brings a unique blend of global tech expertise and an intimate understanding of the South Asian fashion ecosystem. Arif Iqbal, LAAM’s CEO, has a rich career spanning roles at Meta, Pinterest, and Microsoft, where he honed his skills in scaling products globally. Ahmed Muneeb, the company’s CTO, boasts extensive experience at Oracle and Microsoft, driving technological excellence. Bilal Khokhar, who leads product development, was previously steering multiple product areas at Amazon, showcasing his deep expertise in building scalable enterprise solutions.

On the fashion front, Amir Iqbal and Sahar Arif bring more than two decades of experience. They leverage their deep knowledge of the South Asian fashion landscape to empower artisans and brands globally. This combination of tech prowess and fashion expertise uniquely positions LAAM to transform how South Asian fashion reaches global audiences.

Aaqib Gadit, Founding Partner at Disrupt.com, said, “We are excited about the massive opportunity LAAM aims to unlock. Their exceptional team, robust technology stack, and focus on customer obsession will propel them to new heights. We’re proud to be part of their journey and look forward to supporting them as they scale South Asian fashion globally”.

From millions of customers worldwide to the families and communities behind the fashion, LAAM is a platform for impact. It connects the world to South Asian craftsmanship, creating opportunities for sellers while preserving cultural heritage.

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These two skilled individuals, who began as local embroidery artists in the humble suburbs of Haripur, Khyber Pakhtunkhwa (KP) Province, have transformed into tech-enabled entrepreneurs through the training and support provided by Ba-Ikhtiar program. The PTCL group selected them for the event to help them gain invaluable exposure and explore new business opportunities at one of the most important business and tech platforms in the world.

Marrium and Farhat showcased their eye-catching embroidery products at the Pakistan Enclosure, where they also engaged with international visitors, shared their inspiring success story and received recognition for their incredible journeys. Their participation in Expand North Star reflects PTCL Group’s continued support for the program’s graduates, which is essential for the sustainability of their enterprises.

Speaking about their experience, Marrium Hussain said, “I am deeply grateful to PTCL Group for providing us with this opportunity. The experience of being a part of such an important global platform has been life-changing and we look forward to newer avenues of growth for our enterprises. We met different people, gained exposure, and received appreciation for our work, encouraging us to dream bigger.”

Ba-Ikhtiar is a women empowerment initiative launched by PTCL Group in collaboration with the Pakistan Poverty Alleviation Fund (PPAF). It aims to equip small-scale female entrepreneurs with essential digital tools and skills to grow their enterprises. Participants receive smartphones with pre-loaded SIM cards from PTCL Group. They also receive hands-on training in digital skills, including using UPaisa mobile wallets and managing seller accounts on the e-commerce platform Daraz. The 15-day workshop enhances their artisan skills and imparts digital marketing techniques to help them expand their market to the global online space.

The program also includes financial management training from U Microfinance Bank, empowering participants to manage their business finances efficiently. PTCL & Ufone 4G provided them with handsets and mobile connectivity to cover their data and voice needs.

So far two batches of women entrepreneurs have graduated from the Ba-Ikhtiar Program, who now use their smartphones and free data to sell products through Daraz, receive payments via UPaisa, and dispatch orders through courier services. Their success stories inspire other women to pursue digital entrepreneurship to transform their socio-economic condition.

Sharing his thoughts, Hatem Bamatraf, President and Group CEO, PTCL & Ufone 4G said, “Ba-Ikhtiar program mirrors our commitment to fostering digital inclusion and leveraging our digital resources to empower underserved social segments. The initiative enables women to become financially independent and facilitates their participation in Pakistan’s growing digital economy. It lays a strong foundation for a sustainable future by ensuring that women play an active role in improving the country’s socio-economic progress. I am immensely proud of these young entrepreneurs, who has shown resilience and commitment to be the future business leaders.”

The PTCL Group exhibit was a key feature of the Pakistan enclosure at Expand North Star. It received immense footfall, with Marrium and Farhat’s story of their evolution from local artisans to digital entrepreneurs on the back of digital and financial technology inspiring profuse commendation.

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The proceeds will assist PostEx in consolidating its market leadership in Pakistan and support an aggressive expansion into the GCC – where new markets and customers will have access to PostEx’s services.

PostEx utilises an innovative hybrid model of Fintech and Logistics. The Company provides instant access to capital – removing conventional barriers and challenges of traditional financing methods – while its embedded logistics solution makes ecommerce clients’ delivery operations far more efficient; mitigating customers’ cash flow issues. Access to capital is critical for online businesses looking to scale; those with adaptable financing partnership are strategically positioned to leverage opportunities as they arise, driving business success.

PostEx is successfully disrupting the established finance and logistics industries in Pakistan, amid a positive market environment with significant growth headroom. The country’s US$6 billion ecommerce sector accounts for just 1-2% of total retail transactions, versus a global average of c. 15%.

The fund raise follows a very successful 18 months for PostEx – meeting several financial and operational milestones. The Company crossed Annual Recurring Revenue of $21 million – achieving profitability – and is processing over four million monthly transactions. It has been the market leader for the past two years; growing swiftly after commencing operations less than 36 months ago.

Muhammad Omer Khan, CEO and Founder of PostEx, commented: “While the GCC & Pakistan have a thriving and fast-growing ecommerce landscape, the reality is that legacy financial institutions don’t fulfil the needs of digital entrepreneurs and online businesses.

“Ecommerce businesses need access to flexible and affordable funding solutions and our mission at PostEx is to empower online sellers by addressing their most critical challenge: access to the right capital to grow their business through our advanced embedded logistics solution.”

Kirill Kozhevnikov, Managing and Founding Partner at Conjunction Capital, commented, said: “Our investment in PostEx underscores the strategic importance of the Saudi Arabian market as a key growth area within the GCC. PostEx’s innovative approach to integrating fintech with logistics positions them uniquely to address the evolving needs of e-commerce businesses in this region. We are committed to supporting their expansion and driving further advancements in the market.”

PostEx acquired Pakistani logistics service provider, Call Courier, in 2022, expanding its footprint across the entire country. Prior to its pre-Series A, PostEx had raised US$8.6 million from investors including Global Founder Capital, MSA Capital, and Shorooq Partners.

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With this investment, Zyp will create over 60 battery swap stations and deploy 1000 of its Zyp Utility Motorcycles (ZUM 2000) in the next 12 months. The smart motorcycles have fleet management software capabilities that include accident alerts, anti-theft features, and location tracking.

The launch aligns with Pakistan’s bold National Electric Vehicle Policy, which aims for electric vehicles to account for 30 percent of all vehicles sold in Pakistan by 2030. When the Pakistan government issued licenses for the manufacturing of electric vehicles to 31 companies in October 2023, Zyp Technologies was honored to be on this list.

Zyp and its products allow motorcycle fleet operators to make their operations environmentally sustainable while also reducing Pakistan’s dependence on oil. As the climate crisis grows more dire, the urgency to electrify transportation has never been greater.

Hassan Khan, co-founder and CEO of Zyp Technologies, highlighted the transformative effect of Shorooq Partners’ investment: “This pivotal investment accelerates Pakistan towards achieving its electric vehicle ambitions by 2030. Zyp is removing the barrier of affordability from high-quality electric vehicles, which are designed specifically for Pakistan’s extreme temperatures and bumpy roads. Our trials have shown people love our smart vehicles and their quick refueling capability.”

During a successful six-month trial with Chughtai Lab, Pakistan’s largest medical diagnostics company, Zyp’s electric motorcycles traveled more than 70,000 kilometers successfully. This led to Chughtai Lab making a significant purchase of the vehicles. Meanwhile, a three-month trial with the country’s leading courier company, TCS, also demonstrated the high performance of Zyp’s electric delivery motorcycles.

Omer Zabit, principal at Shorooq Partners, commented: “Our investment in Zyp Technologies will drive significant environmental and economic benefits for Pakistan in the long term by addressing some of the challenges that delivery companies and the mobility industry typically face. We see this as an opportunity to support more sustainable innovations in emerging markets.”

To continue playing a key role in Pakistan’s sustainability movement, Zyp has established an assembly line capable of producing up to 12,000 electric motorcycles per year. The company is also planning a mass release of motorcycles in multiple other Gulf nations, notably the United Arab Emirates, in 2025.

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This capital infusion will support DealCart’s mission to expand its reach and provide affordable essential goods to low- and middle-income consumers across Pakistan.

In 2023, Pakistan’s inflation rate soared past 30 percent, putting significant financial strain on Pakistani households. DealCart aims to ease the financial burden and offer low-cost goods by sourcing products directly from manufacturers and collaborating with locally manufactured brands.

DealCart targets consumers who spend about 50 to 60 percent of their income on groceries and essentials, enabling them to save more and invest in a better future. The company also targets a digitally sophisticated younger population that prefers online retail spaces.

“This investment from Shorooq Partners is a testament to the potential of DealCart to revolutionize the way Pakistani consumers shop for essentials,” said Haider Raza and Ammar Naveed, founders of DealCart. “Our goal is to make everyday necessities more affordable and accessible, and this funding will help us get closer to that vision.”

Despite rapid e-commerce growth in neighboring India, Pakistan’s e-commerce sector has lagged. To boost digital transactions and stimulate e-commerce, the State Bank of Pakistan introduced RAAST, an online instant payment platform. This initiative positions DealCart to address market gaps and kickstart the e-commerce sector.

“DealCart has identified a market gap and is developing a distinctive approach to social commerce and providing affordable essentials to most consumers, an approach that aligns with our mission to support market-leading disruptors,” said Omer Zabit, principal at Shorooq Partners. “We believe this investment will enable DealCart to scale rapidly and significantly impact the lives of millions in Pakistan.”

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Established in 2022, Botwa.ai has swiftly emerged as a leader in the AI landscape, catering to the banking, finance, and telecom sectors, to mention a few. Leveraging the latest advancements in Conversational AI, Natural Language Understanding (NLP), and Speech Analytics, Botwa.ai delivers context-driven and intent-aware conversations across channels, driving actionable insights for total quality management and boosting sales.

With Botwa.ai’s innovative conversational AI solutions, businesses can seize the future of customer experience and elevate their operations to unprecedented levels of efficiency and engagement.

“Generative AI and Conversational AI are revolutionizing digital transformation and process modernization, driving unprecedented ROI and efficiency. By harnessing these advanced technologies, organizations can unlock new levels of innovation, streamline operations, and create more engaging customer experiences, positioning themselves at the forefront of the digital age,” stated Muhammad Shakir Mahmood, CEO of Botwa.ai.

With products available today, unlike many competitors still in the development phase, Botwa.ai has already enabled clients to achieve tangible ROI and operational efficiency. This strategic move into the Middle East and Africa markets signifies Botwa.ai‘s dedication to driving digital transformation across diverse industries. Africa’s rapidly growing digital economy presents fertile ground for Botwa.ai’s advanced AI solutions, poised to forge valuable partnerships and support local businesses in their digital journey.

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VajraSpy has a range of espionage functionalities that can be expanded based on the permissions granted to the app bundled with its code. It steals contacts, files, call logs, and SMS messages, but some of its implementations can even extract WhatsApp and Signal messages, record phone calls, and take pictures with the camera.

Based on available numbers, the malicious apps that used to be available on Google Play were downloaded more than 1,400 times. During the ESET investigation, weak operational security of one of the apps led to some victim data being exposed, which allowed researchers to geolocate 148 compromised devices in Pakistan and India. These were likely the actual targets of the attacks. ESET is a member of the App Defense Alliance and an active partner in the malware mitigation program, which aims to quickly find Potentially Harmful Applications and stop them before they ever make it onto Google Play. As a Google App Defense Alliance partner, ESET identified the malicious apps and reported them to Google, and they are no longer available on the Play store. However, the apps are still available on alternative app stores.Last year, ESET detected a trojanized news app called Rafaqat being used to steal user information. Further research has uncovered several more applications with the same malicious code. In total, ESET analyzed 12 trojanized apps, six of which (including Rafaqat) had been available on Google Play, and six found in the wild – in the VirusTotal database. These apps had various names, such as Privee Talk, MeetMe, Let’s Chat, Quick Chat, Rafaqat, Chit Chat, YohooTalk, TikTalk, Hello Chat, Nidus, GlowChat, and Wave Chat.

To entice their victims, the threat actors likely used targeted honey-trap romance scams, initially contacting the victims on another platform and then convincing them to switch to a trojanized chat application. “Cybercriminals wield social engineering as a powerful weapon. We strongly recommend against clicking any links to download an application that are sent in a chat conversation. It can be hard to stay immune to spurious romantic advances, but it pays off to always be vigilant,” advises ESET researcher Lukáš Štefanko, who discovered this Android spyware.

According to the MITRE ATT&CK database, Patchwork has not been definitively attributed and only circumstantial evidence suggests the group may be a pro-Indian or Indian entity. This APT group targets mostly diplomatic and government entities.

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This year, the grand prize for the Network Track went to a team of students from Pakistan, while Qatari students secured the grand prize in the Cloud Track, and the grand prize for the Computing Track was given to students from Kazakhstan.

All the winners received their trophies and prizes from Highness Shaikh Nasser bin Hamad Al Khalifa, His Majesty the King’s Representative for Humanitarian Work and Youth Affairs, and Steven Yi, President of Huawei Middle East & Central Asia. All the participating students in the regional finals received internship opportunities at the Huawei offices in their respective home countries.

His Highness said, “We commissioned the Supreme Council for Youth and Sports, the Ministry of Youth Affairs, the Ministry of Labor, and the Ministry of Education three years ago to examine ways to reskill our youth, and we made it clear to our ministers that we in the military place great emphasis on lifelong training and education. I wanted to promote participants and improve their skills. I wanted high-intensity, high-impact, competitive training camps to help gain new skills, assess abilities objectively, and be ready to tackle new challenges and opportunities.”

“I was very pleased when Huawei was one of the first companies to respond to this vision and to introduce to us the Middle East and Central Asia competition, which was aligned with our direction. This is a fantastic start to an excellent long-term collaboration between the private sector and the public sector in preparing our youths for their future,” he added.

Steven congratulated all the winners, saying, “Developing ICT talent is essential for the continued development of digital economies across the Middle East and Central. At Huawei, we’re cognizant that the digital skills gap affects national economies and individual lives, and we’ve activated a number of ICT talent development programs and initiatives, including our successful Huawei ICT Competition.”

“Huawei is really grateful to our gracious host, Bahrain, for their world-class hospitality. The Kingdom of Bahrain has set an excellent roadmap for an open collaborative environment that promotes partnerships between public and private sectors and academia. I would like to express our gratitude to our partners from regional governments, organizations, and universities for their continuous support and contribution to the success of the competition,” Yi added.

The seventh edition of Huawei’s flagship ICT talent development initiative witnessed the highest level of participation since the competition’s launch in 2017. More than 27,500 students from over 600 universities across 21 Middle Eastern & Central Asian countries participated in this year’s Middle East & Central Asia Huawei ICT Competition. Twenty-two national final teams, consisting of 66 students and 20 tutors, from 11 Middle Eastern & Central Asian countries, including Bahrain, Pakistan, Iraq, Saudi Arabia, Lebanon, Jordan, Kazakhstan, Qatar, Kuwait, UAE, and Oman, qualified for the regional finals. These national finalists participated in exams, field trips, and workshops in the Kingdom of Bahrain from December 19-21, 2023.

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This campaign is still active and is being run by the Transparent Tribe APT group, with the targets being mostly Indian and Pakistani Android users — presumably with a military or political orientation. The victims were probably targeted through a honey-trap romance scam, in which they were initially contacted on another platform and then convinced to use supposedly “more secure” apps, which they were then lured into installing. ESET researchers were able to geolocate over 150 victims from India and Pakistan as well as from Russia, Oman, and Egypt. The threat campaign most likely has been active since July 2022.

“The victims were persuaded to use the MeetsApp or MeetUp app. We have previously seen such honey-trap baits being used by Transparent Tribe operators against their targets. Finding a mobile number or an email address they can use to make first contact is usually not difficult,” explains ESET researcher Lukáš Štefanko, who discovered the campaign. “We identified this campaign when analyzing a different malware sample posted on Twitter,” says Štefanko.

Besides the inherent working chat functionality of the original MeetUp and MeetsApp apps, the trojanized versions include malicious code that ESET has identified as that of the CapraRAT backdoor. Transparent Tribe, also known as APT36, is a cyberespionage group known to use CapraRAT. The backdoor can take screenshots and photos, record phone calls and surrounding audio, and exfiltrate any other sensitive information. The backdoor can also receive commands to download files, make calls, and send SMS messages. The campaign is narrowly targeted, and nothing suggests these apps were ever available on Google Play.

CapraRAT is remotely controlled, executing commands received from the command and control server. Since the operators of these apps had poor operational security, the victims’ personally identifiable information was exposed to our researchers across the open internet. It was possible to obtain information about the victims, such as their locations.

Both apps are distributed through two similar websites that describe the apps as secure messaging and calling services. In other words, they pose as the official distribution centers of these apps. Before using the app, victims need to create accounts that are linked to their phone numbers and that require SMS verification. Once this account is created, the app requests further permissions that allow the backdoor’s full functionality to work, such as accessing contacts, call logs, SMS messages, external storage, and recording audio.

Transparent Tribe probably uses romance scam baits to lure victims into installing the app and continues to communicate with them using the malicious app to keep them on the platform and make their devices accessible to the attacker.

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“The success of Rently is a result of our unwavering commitment to customer satisfaction, and our focus on leveraging technology to create a safe and reliable service for our customers,” says Zeeshan Jamote, the CEO of Rently. “We are proud to provide an affordable and convenient solution for those who cannot afford to own a car, and we are equally committed to supporting local businesses by sourcing cars from them at competitive rates.”

Rently has quickly become the go-to choice for travelers in Pakistan, offering a wide range of rental cars and competitive rates. The company has received numerous accolades for its innovative approach and commitment to customer satisfaction.

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