A female-led startup, Orbit-Ed from NSTP, raised a $500k investment from the Silicon Valley investor, Boost VC, earlier this year, bringing their total pre-seed funding to $800,000.
Boost VC is an early-stage VC firm founded and run by Adam Draper that invests in pre-seed startups accelerating the Sci-Fi Future that includes aerospace, energy, virtual reality, and other tech-related verticals.
Orbit-Ed is the first startup from Pakistan operating in the local market to secure money from Boost VC and the second entirely female-led startup from Pakistan to secure venture capital.
The startup is a gamified learning platform with components of both virtual and augmented reality. According to Bloomberg, the Global AR & VR Market will reach a figure of 454.73 billion by 2030, with an annual CAGR of 40.7%.
The founders Navera Waheed and Wajiha Habib are indeed redefining workplace training. Having initiated this startup in 2018 with an aim to revolutionize traditional classroom learning, the duo last year, launched into the enterprise training industry. The problem solving here involves making education all the more interactive for the students, putting aside the traditional boring techniques of books and endless text.
According to the founders, Orbit-Ed will help provide personal and professional trainings to millions of people, fostering economic mobility throughout the region. Their data-rich platform enables the deliverance of learning insights that enterprises have never formerly discovered before.
With a total of twelve-year experience in e-learning, fourteen years of tenure in startup sales, and a further ten-year period in AR/VR, the startup is said to have had a 189% increase in sales. Proudly claiming, to adequately deliver the return on investment for training, Orbit-Ed surely is soaring high in the market.
The startup amongst many others is based out of Pakistan’s first National Science and Technology Park, which is home to the leading hi-tech R&D firms and startups. Dr. Rizwan Riaz, Pro-Rector RIC NUST & Vice President NSTP, said ‘The inflow of funding as such provides a great boost to the entire ecosystem so as to foster collective growth. We look forward to more international spaces investing at NSTP startups and that will fuel the innovation growth across the country.’