Maqsad, a Pakistan-based ed-tech startup, has raised a $2.8 million seed round led by Speedinvest and returning investor Indus Valley Capital. “The capital from this funding round positions the company as Pakistan’s best-funded edtech and will be used primarily to expand the subject offering and supercharge the tech behind the platform,” reads the official statement from the startup, Maqsad
Maqsad – Pakistan’s Best-funded Edtech
The capital raised from the seed funding round took Maqsad’s all-time raised capital to $4.9 million making the company Pakistan’s best-funded edtech. According to the startup, education spending in Pakistan is estimated at $37 billion by 2032 with a quarter of this going to after-school academic support, which is the target market of Maqsad. The other participants of the seed round included Stellar Capital, Alter Global, Johann Jenson (SVP Product at GoStudent), and other strategic angels.
Indus Valley Capital’s founder Aatif Awan said; “We first invested in Maqsad 18 months ago, before they had a product or a team. We were compelled by the vision Rooshan and Taha had for education in Pakistan. Investing again in Maqsad is a no-brainer as we have seen them bring together one of the best startup teams in Pakistan to build a category-leading product that has helped over a million students.”
More on the Startup
Maqsad is a purely B2C platform that is laser-focused on delivering a personalized learning experience at scale and has a number of exciting AI-based initiatives in the pipeline. The startup was founded in 2021, by Rooshan Aziz and Taha Ahmed and its aim is to make education accessible for 100 million Pakistani students via an end-to-end learning mobile platform.
Read more: Pakistan’s Startup Funding Drops by 80%
