LAAM, a Pakistan fashion marketplace startup, has raised $5.5 million in seed funding, led by Dubai-based Disrupt.com and Zayn VC, while Abu Dhabi-based biotech startup BioSapien has raised $5.5 million in a Pre-Series A funding round led by Global Ventures.
LAAM secures $5.5m for Middle East expansion
LAAM, a Pakistan-based online fashion marketplace, has raised $5.5 million in seed funding, led by Dubai-based Disrupt.com and Zayn VC. Graph Ventures, Mentors Fund, and tech leaders from Oracle, Microsoft, Google, and Salesforce also participated in the funding round.
The funding will support LAAM’s expansion into the Middle East and further enhance its global presence. LAAM connects South Asian artisans with global customers through a curated platform powered by AI. The marketplace offers over 100,000 products, including casual, ethnic, formal wear, footwear and accessories from more than 1,200 sellers, in over 100 countries, while also supporting over 10,000 SMEs in Pakistan.
“Our cutting-edge, AI-driven, tech and the timeless appeal of South Asian craftsmanship help 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,” said Arif Iqbal, CEO of LAAM in a statement.
Launched in 2021, LAAM has developed a robust e-commerce infrastructure, encompassing supply chain solutions, seller business management software, and warehousing capabilities. Beyond its marketplace business, the company also offers a proprietary technology and infrastructure as a platform called Octane, which helps small businesses establish an online presence and expand globally.
The Middle East is one of LAAM’s top-performing regions, alongside the US, Canada, the UK, and Pakistan. With the global market for South Asian ethnic wear projected to reach $129 billion by 2030 — of which $46 billion will be driven by digital spending — LAAM is strategically positioned to capitalise on this growth.
Abu Dhabi biotech startup BioSapien bags $5.5m
Abu Dhabi-based biotech startup BioSapien has raised $5.5 million in a Pre-Series A funding round led by Global Ventures, a leading MENA-based VC firm, with additional support from Dara Holdings.
The company will use the capital to initiate clinical trials for its flagship product, MediChip, in the UAE, with patient enrolment in Abu Dhabi slated to begin in Q2 2025. Funds will also drive advancements in product development, manufacturing capacity, and talent acquisition.
MediChip is a 3D-printed, slow-release drug delivery platform designed to attach directly to tissues. This localised approach minimises systemic side effects, ensures drugs remain concentrated within the tumour microenvironment, and reduces the quantity of drugs needed while maintaining efficacy. It aims to downsize tumours, alleviate symptoms, and potentially eliminate the need for life-altering surgeries.
Initially targeting colorectal cancer, the platform has potential applications in treating pancreatic and lung cancers, as well as non-cancer conditions such as hormone therapies, biologics, and cell and gene therapies.
BioSapien operates within a global cancer drug delivery market valued at $247 billion, with the colorectal cancer segment alone worth $19 billion and growing steadily.
Khatija Ali, CEO and founder of BioSapien said in a statement, “[..] There is a high unmet need for sustained drug release with minimal side effects in healthcare with over 30% of chemotherapy patients enduring severe side effects, often resulting in reduced or halted treatment.”
She added further, “Our vision is to provide on-the-go therapy and treating cancer locally. Our innovative technology is well-placed to reduce roadblocks and increase quality of life during treatment and potentially prevent life-altering surgeries.”
