Metal Secures Rebel Fund Investment as Airlift’s $110 Million Collapse Still Shadows Usman Gul
Updated
Updated · TechJuice · Jun 3
Metal Secures Rebel Fund Investment as Airlift’s $110 Million Collapse Still Shadows Usman Gul
1 articles · Updated · TechJuice · Jun 3
Summary
Metal, Usman Gul’s AI fundraising startup, said it has secured a strategic investment from U.S.-based Rebel Fund, adding to backing from Y Combinator and a16z.
No amount, valuation or terms were disclosed, and Rebel Fund’s algorithm-driven strategy routinely targets YC startups before Demo Day, making the check less distinctive than local coverage suggested.
Metal’s software model is far less capital-intensive than Airlift’s quick-commerce business, which expanded aggressively and depended on continued fundraising to sustain heavy cash burn.
Airlift raised $110 million and reached a $275 million valuation, but shut down on July 12, 2022 after a planned Series C stalled, costing about 300 corporate employees and thousands of frontline jobs.
That collapse has become a cautionary tale for Pakistan’s startup ecosystem: investors and founders are being urged to scrutinize business durability, not celebrate vague funding announcements.
Airlift's failure exposed a flawed model. Why celebrate a new venture's funding before it proves its own financial viability?
Is the startup world's pivot from logistics to AI less about innovation and more about finding easier models to fund in 2026?
Metal Secures Strategic Investment from Rebel Fund: A New Chapter for Pakistan’s Startup Ecosystem After Airlift’s $85M Collapse
Overview
In June 2026, Metal announced a strategic investment from Rebel Fund, a fund recognized for its strong connections in the startup world and a proven record of successful ventures. Rebel Fund’s partners, accomplished Y Combinator alumni, have co-founded companies valued at over $100 billion and invested in more than 250 startups, consistently achieving top returns. This partnership highlights Rebel Fund’s sophisticated, data-driven investment approach. While the specific investment terms remain undisclosed, the collaboration signals confidence in Metal’s AI-powered SaaS platform and marks a significant step for Pakistan’s growing tech ecosystem.