Maqsad, a Karachi-based online tutoring platform, allotted new preference shares this week worth $4.9 million to investors that took part in its seed and pre-seed rounds.
Previously this month, Maqsad announced that it had raised $2.8 million in seed funding led by Europe-based Speedinvest and returning investor Indus Valley Capital. The round was the largest raised by a Pakistani edtech company.
Maqsad had previously raised $2.1 million in a pre-seed round in late 2021.
Founded in 2021 by Rooshan Aziz and Taha Ahmed, the startup provides online learning solutions for students in grades 9 to 12. It boasts over a million app downloads.
Top shareholders in Maqsad
Singapore-based luxury pop culture collectibles maker XM Studios added AdMeta, an advertising platform for Web3 and Metaverse, to its cap table last week.
The company had last raised S$4.5 million ($3.4 million) through a tokenised offering on the private investment platform ADDX in 2021. The investment was led by Temasek’s unit Heliconia Capital.
Other updates from DATA VANTAGE
Advance, a salary-on-demand startup based in the Philippines, announced a $16 million round this week. The round comprises $6 million in equity funding led by Do Ventures, which was first reported by DealStreetAsia in December, and a $10 million loan from Lendable.
Ficofi, a highly exclusive wine club with only 300 members globally, saw its largest shareholder sell some of its shares to a France-based entity. With offices in Paris, Bordeaux, Singapore and Hong Kong, Ficofi boasts high-profile members such as Alibaba co-founders Jack Ma and Joseph Tsai.
Singapore-based digital bank MariBank, previously known as SeaBank, has received $175 million to date from parent company SeaMoney, the fintech arm of Southeast Asia’s e-commerce and gaming giant Sea Ltd.
Singapore-headquartered digital pharmacy network SwipeRx, formerly known as mClinica, reported a 152% jump in revenue for the financial year that ended June 30, 2022, while its net loss went up by nearly 7%.
India-based cross-border health benefits and travel startup Hospals recorded a 32% increase in revenue in 2022. The revenue growth could not prevent the Wavemaker Partners-backed firm from returning to the red after reporting a profit in 2021.
TabSquare, a Singpore-based restaurant management solutions provider, recently reported a 91% year-on-year increase in revenue for the 12-month period that ended September 30, 2021. The company received $1.2 million from parent Delivery Hero last week.
CredoLab, a Singapore-based company that provides bank-grade credit scorecards based on smartphone metadata, more than doubled its revenue in 2021, a recent regulatory filing shows. The company also slightly reduced its losses compared to the previous year.