Out-Class, an EdTech firm located in Pakistan, declared on Thursday that it had raised $500,000 in its seed round. With assistance from other international institutional and angel investors, the Pakistani investment firm House of Habib led the round.
Out-Class is a digital platform that offers students, bite-sized classes. It was founded in 2021 by a LUMS alumna and two Harvard alumni. Over 10,000 pupils are currently served, according to the company.
According to Hamza Habib, non-executive director of House of Habib, “The Out-Class team has the vision to make high-quality information available for students through a cutting-edge, world-class platform.”
Their plans to use the additional capital to increase their course choices, invest in bettering teacher quality, and add new personalized and adaptive features to their platform show their commitment to enhancing education.
Out-Class CEO Aiman Bashir declared: “We are committed to providing students with the best education at a reasonable cost. Our intensive classes aid students in getting ready for difficult tests.
Another co-founder, Ali Nomani, stated that other items for the mass market would soon be released by the business. He stated, “Our goal is to address the educational needs of all Pakistanis between the ages of 5 and 30. However, our current focus is on K–12 education.
The Pakistani EdTech startup sector, he continued, is likely to mature within the next three to five years and is in a prime position to realize its full potential.
Due to the country’s vast population, high expenditure on education, and expanding access to affordable technology, Pakistan’s startup sector is predicted to expand quickly in the years to come.
With 81 acquisitions worth a combined $350 million secured in 2021, Pakistan’s startup sector had a spectacular year. This was more than 5 times the $65 million that was raised in 2020.
The startup industry has kept growing in 2022 despite several obstacles. According to a Deal Flow Tracker, companies raised a sizable $163 million during the first quarter of the year.