The State of Startup Funding In Bangladesh till September 2021

Sep 20, 2021
  • To date, 37+ Bangladeshi startups raised more than $120Mn in disclosed investments. Many startups raised seed and pre-seed money that has not been disclosed. The increase is significant compared to previous years. In 2020, the total funding was around $40Mn. We still have a quarter to go, so it is logical to anticipate that the final quarter of the year will be eventful. 
  • The overall angel and seed-stage funding environment has improved significantly. Getting late stage funding has also become relatively easier for Bangladeshi startups in 2021. If socio-economic and demographic developments are any indication, Bangladesh should become a technological innovation hotbed in the coming decades. Investors should pay closer attention to the developments in the country. 
  • Funds have been raised by a wide range of companies. However, ecommerce, healthcare, logistics, education, and fin-tech continue to attract the most investment. Bangladesh's startup scene has grown rapidly in recent years, producing increasing numbers of high-quality startups. 
  • See which companies have raised money so far in 2021 below. For queries and feedback, please email us at   
Company Transaction Name Money Raised Investors
ShopUp Series B $75Mn Valar Ventures, Prosus Ventures, Flourish Ventures, Sequoia Capital India, and VEON Ventures.
Chaldal Series C $10Mn aavet Hinrikus (co-founder of Wise), Sten Tamkivi (CPO of Topia), and Xploration Capital, Mir Group
Protein Market - $100k M Asif Rahman, Nazmul Hasan Rupok, Jahangir Alam, and Md. Shahjahan
Frontliners Technologies - Undisclosed M Asif Rahman, and Nazmul Hasan Rupok
Jatri Pre-series A $1.2Mn Reflect Ventures, Brain-Too-Free Ventures, SBK Tech Ventures
Alice Labs Seed $500K Anchorless Bangladesh, HOF Capital.
Shuttle Seed $750k Accelerating Asia. Robi Axiata Limited (r-ventures), Impact Collective (The Ventures, South Korea), and Bangladesh Angels Network (BAN), Uber's Head of Mobility Innovation Programs Zulkarnain, and Co-founder & Managing Director of foodpanda Bangladesh Zubair Siddiky
Shadhin FinTech Pre-seed $165k Bangladesh Angels
Praava Health Series A Prime - General David H. Petraeus, Esther Dyson, SBK Tech Ventures, Dr. Jeremy Lim, Dr. Rushika Fernandopoulle, and Geoff Price
Zingo Pre-seed - -
Shikho Seed $1.3Mn Anchorless Bangladesh, LearnStart, Learn Capital, Wavemaker Partners, Ankur Nagpal.
MedEasy (Daktar Bondhu) Pre-seed - SBK Tech Ventures
ROOTs Edu Pre-seed Undisclosed Omicon Tech Ventures
Arogga pre-seed $200k -
DataBird Bridge Round $3Mn Skycatcher
Kludio pre-Series A Undisclosed Steve Vickers, Impiro
Maya Seed $2.2Mn Anchorless Bangladesh, The Osiris Group,
Frontier Nutrition Series B $6Mn Adjuvant Capital, the International Finance Corporation, DSG Consumer Partners, DSM Venturing, Shazi Visram, Seth Goldman, Bridgette Heller, and Great Point Ventures.
Intelligent Machines - BDT 4cr IDLC Venture Capital Fund I
Paperfly - BDT 100cr Ecom Express
Arogga - Undisclosed Falcon Network
Pathao - - Startup Bangladesh Ltd
Dhaka Cast - - Startup Bangladesh Ltd
Moner Bondhu - - Startup Bangladesh Ltd
Chaldal - - Startup Bangladesh Ltd
Eduhive - - Startup Bangladesh Ltd - - Startup Bangladesh Ltd
Intelligent Machines - - Startup Bangladesh Ltd Pre-seed $50,000 Mohammad Maaz Mamoon
Happihub Seed $60,000 -
Shebika Pre-seed $600,000
E-Desh $235k Maslin Capital
Mainframe Labs Pre-seed $75k Tiger IT Foundation
Chaya Pre-seed $45k Mohammad Maaz Mamoon and Isra Mamoon
Markopolo Pre-seed - Deko Isho Group
StridesCo Pre-seed - Bangladesh Angels
Truck Lagbe Series A $4Mn IFC, IDLC VC Fund 1, Millville Opportunities
Upskill Pre-seed $110k Vint Valley
Merchant Bay Pre-seed $260k --
Go Zayaan Seed $2.6Mn Wavemaker Partners
SOURCE: Sources

Register to read this article in full and more insight articles!

By registering, you will be signed-up for an account which gives you access to our premium stories published a few times a week and archives of all our premium stories. You will also receive a daily newsletter sent to your inbox. To unsubscribe, please visit the profile section in your account. We have a strong privacy policy. We will never share or sell your data to anyone.

What you get
In-depth actionable analysis

In-depth analysis on startup, business and technology scene in Bangladesh that you would not find anywhere else.
Daily and weekly newsletter
Get our daily and weekly newsletter with our most important stories directly to your inbox.

About FS

Contact Us