The Beaconhouse School System (BSS), Lakson Investments Venture Capital (LIVC) and Knowledge Platform Pakistan, in a bid to revolutionise education in the country, have decided to bring an investment of Rs320 million in Pakistan’s education technology sector.
Addressing a press conference on Wednesday, Knowledge Platform Pakistan Country Director Talhah Munir, LIVC Managing Partner Faisal Aftab and Beaconhouse Executive Director Nassir Kasuri highlighted the need to equip Pakistan’s new generation with modern education as it “would help them find respectable jobs and growth opportunities”.
Talhah Munir said that his company has successfully completed its oversubscribe series A equity funding round with over $2 million in equity investment. “Lead investors in the Series A round that have taken a minority position in Knowledge Platform are the BSS, the country’s largest school network, and LIVC, one of the country’s leading venture capital firms.”
Munir said that in public educational institutions, his company, in collaboration with Federal Directorate of Education, launched as a two-year pilot project with the Jazz Smart Schools which recorded significant improvement in five areas: student learning outcomes; teaching quality; student engagement, expanded use of technology, and improved accountability and monitoring of results.
Knowledge Platform has reached a major milestone, crossing 200,000 student learners across Pakistan through its innovative learning solutions, Learn Smart Pakistan (LSP) and Learn Smart Classroom (LSC), Munir added.
The organisation has quickly made its mark in the education sector, servicing 200,000+ students from more than 6,700 schools in 400 cities and towns across Pakistan.
It is an online educational resource providing personalised learning for any student enrolled from grades 6-12. With over 1,000 ready-made lesson plans, hundreds of educational games and activities and over 27,000 assessment questions based on the National Curriculum, LSP has helped tens of thousands of students improve their performance in board exams without the student investing thousands of rupees in private, after-school tuition centres or academies.
Munir said that his company has become the first Pakistani company to successfully introduce the product in China wherein at present over 400,000 students are taking advantage of the technology-based education system. They further said that by the end of 2024 the company will be serving 5 million students in Pakistan.
Nassir Kasuri said that to revolutionise education, BSS decided to join hands with knowledge platform Pakistan as BSS has over 45 years expertise in the education sector spread across the country.
Speaking on the occasion, Faisal Aftab said that LIVC will play a critical role in helping partner organisation to navigate in venture capital market. he said that the future of Pakistan’s education largely rests in the hands of about 30,000 small private schools which is providing education to an estimated 18-20 million of students.