Out-Class, a Pakistani EdTech firm, revealed on Thursday that it had successfully raised $500,000 in its seed round of funding. Along with other international institutional and angel investors, the House of Habib spearheaded the financing round.
Out-Class, dubbed “Netflix for students,” will be introduced in 2021 by a LUMS alumna and two Harvard alums with the goal of promoting educational equality. Through bite-sized courses, it already serves over 10,000 students.
The business stated that it intended to use the additional funding to increase the number of courses it offers, invest in raising teaching standards, and add new adaptive and personalised capabilities to its platform.
“We were inspired by the Out-Class team’s vision to make high-quality content accessible for students through an innovative, world-class platform,” says Hamza Habib, Non-Executive Director at House of Habib.
CEO Out-Class Aiman Bashir stated: “We started off by offering crash courses to students to prepare them for high-stakes exams at one-fourth the price of tuition academies. But we’re just getting started.
Pre-seed funding of $2.1 million is raised by the Pakistani edtech firm Maqsad.
We aim to make high-quality education available and affordable to everyone because one-third of children in this country are not in school.
The creators are cautious but optimistic in light of the recent investment and the global financial crisis.
Oosman Bashir, a co-founder, said, “We feel immense responsibility in our role as contributors to Pakistan’s educational scene and realise it needs a lot of work. The educator continued by saying that the business had looked for investors who were familiar with the industry.