Maqsad, a Karachi-based EdTech startup, has raised $2.8 million in seed funding from Speedinvest, Indus Valley Capital, Alter Global, and Stellar Capital.
Make me care: Parents in Pakistan spend a fair amount of money on their children’s education. By 2032, they are expected to spend $37 billion, according to Maqsad.
A student-to-teacher ratio of 44:1 prevents students from getting the attention they deserve, and one size fits all teaching takes over. Personalized tutoring after school helps them understand the subject matter so they can pass standardized tests. This is crucial to college admissions.
Personalized tutoring, however, is not cheap. Those who need it most are unable to afford it. Maqsad believes it can help solve this problem.
Tell me more: With Maqsad, students in grades 9-12 can access an all-in-one mobile learning platform. In addition to offering high-quality and affordable personalized learning, customized testing, and answering queries, its platform also provides simplicity and flexibility.
Through video-based content, students can learn at their own pace and test their knowledge through quizzes and other tools on the app. All educational content is produced in-house, ensuring quality.
According to Maqsad, the app consistently ranks at the top of the app store, has achieved 1+ million downloads in the past six months, and has answered more than 4 million student queries.
You should know: Maqsad was founded in 2021 by Rooshan Aziz and Taha Ahmed.
In 2021, it raised $2.1 million in pre-seed funding. Maqsad has raised $4.9 million in funding to date, making it the most well-funded EdTech startup in Pakistan.
Zoom out: Education and skills development are in high demand in Pakistan, thanks to a growing young population that is tech-savvy. Startups like Maqsad do more than fill a gap in the education market. They stimulate innovation and create jobs.
More funding will allow Maqsad to invest in research and development, resulting in more innovative and effective online learning solutions.
Source: Press release