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Thursday, September 29, 2022

Pakistani edtech startup Maqsad raises $2.1 million in pre-seed funding

A Pakistani edtech startup named Maqsad has raised $2.1 million in a pre-seed funding round with an aim to build a mobile-only platform to offer after-school academic support to “100 million” Pakistani students.

Alter Global, Fatima Gobi Ventures, and several individual founders from Pakistan and Middle East participated in the round which was led by Indus Valley Capital, says a press release by the company.

Maqsad — which means purpose in Urdu — aims to deliver high-quality localised academic content that is in a mix of English and Urdu. The company says its mission is to level the playing field by offering Pakistani students the tools they need to succeed in their exams and beyond.

Read more: Ignite-funded marketing platform Walee raises $2.7 million in seed funding

The edtech startup, founded by childhood friends Taha Ahmed and Rooshan Aziz, will be launching its mobile app in Q4 2021 and currently has a wait-list in place for early-access, according to the company.

The amount would be used to expand its workforce, and build technology/content as it looks to scale up.

Rooshan said: “Struggles of students during the early days of the pandemic motivated us to run a pilot. With promising initial traction and user feedback, the potential to digitise the education sector became very clear.”

“It’s about more than just getting students to pass their exams. We want to start a revolution in the way Pakistani students learn, moving beyond rote memorisation to a place of real comprehension” according to Taha.

Aatif Awan, the founder and managing partner of Indus Valley Capital, said: “We’ve been looking to invest in a startup transforming education in Pakistan since Indus Valley’s inception. Maqsad founders’ deep understanding of the problem, unique approach to solving it and passion for impact persuaded us quickly that this was the team to partner with.”

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