Metal, a Pakistan-based startup, has raised US$4.5 million in a seed funding round led by a16z Speedrun and Y Combinator. Participation also came from Pioneer Fund, Rebel Fund, Gaingels, Indus Valley Capital, Team Ignite Ventures and Phaze Ventures.
The company’s founder and CEO, Usman Gul, previously co-founded the logistics startup Airlift Technologies. Gul announced the round through a social media post.
Metal is building an AI operating system designed to assist founders with fundraising and venture capital workflows. According to the company, it targets a persistent pain point that early-stage founders face when navigating capital formation.
As per the company’s press release, with Airlift it raised US$120 million in venture financing over three years, during which it spoke with roughly 300 unique investors. About 80 per cent of those investors were not a fit for its stage, sector, geography or check size at the time.
According to Gul, Metal is on track for multimillion-dollar annual revenue and has posted six consecutive quarters of 30 to 80 per cent sequential growth. Those figures are company claims rather than audited disclosures.
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