Laam Secures $5.5M to Expand South Asian Fashion Marketplace
Laam, a Pakistan-based online marketplace specializing in South Asian fashion, has raised $5.5 million in a seed round led by Disrupt.com and Zayn VC. Founded in 2021 by Arif Iqbal, a former Meta, Pinterest, Microsoft, and eBay employee, Laam addresses the growing global demand for South Asian apparel.
Connecting South Asian Sellers with Global Buyers
Laam offers a diverse catalog of over 100,000 items from nearly 1,200 Pakistani sellers, catering to men, women, and children. The platform serves over half a million buyers in more than 100 countries, with key markets including the U.S., Canada, the U.K., and the Middle East. While Pakistan remains its largest customer base, international sales drive the majority of revenue. This global reach connects local sellers with a broader audience, similar to Xiaomi's open-sourcing of its Vela IoT platform.
Leveraging Technology for Growth
Laam utilizes data and machine learning to personalize the customer experience, optimizing product discovery and providing insights to sellers. Features like AI-powered photo shoots, automated logistics, and customized order processing streamline operations. This focus on technology mirrors trends seen in other sectors, such as Anybotics' use of AI in industrial inspection robots.
Expansion Plans
The new funding will fuel Laam's expansion into other South Asian regions and establish a presence in key international markets, starting with the UAE and followed by the U.S. This strategic move comes despite a recent slowdown in the Pakistani startup ecosystem. Laam faces competition from local players like SanaullaStore and Bagallery, as well as international giants like Temu and Alibaba's Daraz. However, Laam differentiates itself by offering a curated selection from diverse brands, catering to the specific needs of the South Asian diaspora. This curated approach contrasts with platforms like 9to5Mac, which provides broad Apple news coverage, highlighting Laam's niche focus.
