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September 4, 2026Metal, an AI operating system for startup fundraising built by Airlift co-founder Usman Gul, raised $4.5M led by a16z Speedrun and Y Combinator, with six consecutive quarters of 30-80% growth.
A Pakistani founder who built one of South Asia’s most ambitious logistics startups is now taking aim at the global venture capital industry. Metal, an AI operating system designed to assist founders with fundraising and venture capital workflows, has raised $4.5 million in a seed funding round led by a16z Speedrun and Y Combinator.
Metal was founded by Usman Gul, who previously co-founded Airlift, the Pakistani on-demand logistics and quick commerce startup that raised over $85 million before shutting down in 2022. The announcement was made by Gul via a social media post on September 2, 2026.
The round also saw participation from Pioneer Fund, Rebel Fund, Gaingels, Indus Valley Capital, Team Ignite Ventures, and Phaze Ventures, assembling a credible cross-section of Silicon Valley and South Asian venture capital behind the company.
Metal’s core proposition is straightforward but potentially transformative. Fundraising for startups has long been an opaque, relationship-driven, and inefficient process.
Metal positions itself as the AI infrastructure layer for that process, providing deep intelligence and automation to help founders navigate investor discovery, due diligence preparation, investor communications, and the broader capital formation cycle.
The platform is designed not just for the fundraising sprint but as ongoing infrastructure founders continue using throughout their company-building journey.
Gul framed the ambition plainly: “Today marks an important step in our broader ambition: turning software that founders initially adopt while raising capital into infrastructure they continue using throughout the capital formation process.”
The commercial momentum behind this raise is notable. Metal is tracking to close FY2026 with multi-million-dollar annual revenue, having recorded six consecutive quarters of quarter-on-quarter growth ranging from 30 to 80 percent. For a seed-stage company, that trajectory is exceptional and helps explain the calibre of investors willing to back it.
Alongside the fundraise, Metal published its thesis on the evolution of private capital markets, outlining its vision for how the sector will develop in the coming years as AI increasingly mediates the relationship between founders and investors.
Earlier in June 2026, Metal had already secured strategic investment from Rebel Fund, a venture capital firm that focuses on high-performing Y Combinator alumni.
For Pakistan’s startup ecosystem, Metal’s raise carries a symbolic weight that goes beyond the dollar figure. It represents a Pakistani-founded company going after a global problem at a global price point, backed by the most recognised accelerator in Silicon Valley and one of its most active early-stage funds.
