Edtech Startup Maqsad Raises $2.8 Million in Seed Funding

Maqsad is a mobile-only platform that provides academic content and personalized learning to students in Pakistan. It was founded by Taha Ahmed and Roshan Aziz back in 2021. It is a purely B2C (Business to Customer) platform, that envisions embedding itself across the education ecosystem. The company said that it has already received interest from private and public sector institutions for potential partnerships. Yesterday, Maqsad announced that it has secured $2.8 million in startup funding.

The oversubscribed seed round, according to the company, was led by Speedinvest and returning investor Indus Valley Capital. In addition, Stellar Capital, Alter Global, Johann Jenson (SVP Product at GoStudent), and other strategic investors participated, according to Maqsad’s announcement.

The firm raised $2.1 million in a pre-seed round in September 2021. The most recent investment brings Maqsad’s total capital to $4.9 million. The firm intends to capitalize on Pakistan’s expanding education industry, which “presents a considerable opportunity, with yearly expenditures expected to reach $37 billion by 2032.”

Speedinvest, one of Europe’s largest seed funds with an edtech unicorn in its portfolio (Viennese GoStudent), is optimistic regarding the company’s future.

Moreover, it is pertinent to mention here that Out-Class, another Pakistani edtech firm, raises $500,000 in funding. The edtech company wants to use the new financing to extend its subject offering and “supercharge” the platform’s technology.

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