KARACHI: Pakistan-based startup Metal has raised $4.5 million in a seed funding round led by a16z Speedrun and Y Combinator, marking another major investment in the country’s technology startup ecosystem.
Metal founder and CEO Usman Gul, who previously co-founded Airlift, announced the funding through a social media post.
Metal operates an artificial intelligence-powered platform designed to help startup founders manage fundraising and venture capital workflows. The company uses automation and market intelligence to support founders throughout funding rounds and the broader capital-raising process.
Several Venture Capital Firms Join Funding Round
According to Gul, Pioneer Fund, Rebel Fund, Gaingels, Indus Valley Capital, Team Ignite Ventures and Phaze Ventures also participated in the seed round.
Furthermore, Gul said Metal was on track to close FY2026 with multi-million-dollar annual revenue after recording six consecutive quarters of between 30% and 80% quarter-on-quarter growth.
The company aims to expand beyond software that founders initially adopt while raising capital and develop infrastructure they can continue using throughout the capital formation process.
Metal Targets Wider Role in Private Capital Markets
Meanwhile, Metal published its thesis outlining how it expects private capital markets to evolve in the coming years.
The company’s strategy indicates that it wants to establish its platform as a longer-term operating system for founders rather than limiting its services to individual fundraising rounds.
Additionally, the latest investment follows earlier backing from Rebel Fund. Metal secured a strategic investment from the venture capital firm in June.
Rebel Fund primarily invests in high-performing startups emerging from the Y Combinator ecosystem.
The $4.5 million seed round gives Metal additional capital to develop its AI platform as it seeks to expand its presence in fundraising technology and private capital markets.
