NIC Peshawar startup valued at $1 million

NIC Peshawar startup valued at $1 million

Oct 22, 2018

We are very excited to announce that one of the startups from National Incubation Center, Peshawar’s first cohort has been given a market valuation of $1 million. This is the first of its kind of investment in any startup from KP and that too in such a brief period of time.

Called by some as Pakistan’s Louis Vuitton of Peshawar Chappals, Bera is a footwear brand which channels centuries of heritage into modern high fashion. The startup works with local artisans, who value their craft as an art, to produce Peshawari Chappals that are authentic, comfortable and remarkable.

“We believe that Peshawari Chappal, with its unique look and versatility, can carve its own niche in the global footwear market,” said Bera Co-Founder and CEO Muhammad Jahangir Ahmad. “We have been very fortunate to be a part of NIC Peshawar’s first cohort as it gave us access to investors and polished our business acumen that led to this valuation.”

“Our local crafts give us our unique identity in the world, we just need to believe in our own voice and represent it to the best of our ability at a global level,” said Bera Co-Founder and Managing Director Mian Rashed Inam Khattak.

“Bera’s success is attributable to their ability to reimagine a local craft for a global audience,” said Murtaza Zaidi, Director NIC Peshawar. “This kind of ingenuity not only provide avenues of growth for our local talent but also propels our nation forward on the world stage.”

Launched in January, National Incubation Center, Peshawar funded by Ignite, Ministry of IT & Telecom and driven by LMKT in collaboration with PTCL aims to build a thriving entrepreneurial ecosystem in Khyber Pukhtunkhwa by supporting the creation of disruptive, innovative product-based startups.