Total deals: 13
12+ Bangladeshi startups raised more than $57Mn in disclosed investments in Q1 2022. This includes ShopUp’s $34 million Series B extension round led by Tiger Global announced in January 2022 and was originally part of its earlier series B round and Startup Bangladesh Limited’s nearly $2 million investments in 8 companies. Apart from this, several startups raised undisclosed seed and pre-seed investments.
This is a significant leap from the previous years even if we exclude ShopUp’s $34 million investment.
The country saw a few M&A deals in SWAP acquiring 49% in BDHotDeals and GoZayaan acquiring Pakistani startup FindMyAdventure.
Funds have been raised by a diverse range of companies. However, edtech, logistics, transportation, and ecommerce are the top verticals that attracted the highest investments.
Ecommerce companies raised the most investment aided by ShopUp’s massive round. Logistics and transportation account for the highest number of deals followed by edtech.
Read about the most active investors in Bangladesh in 2021 here and our Bangladesh Startup Funding Report 2021 here.
See which companies have raised money in Q1 2022 below. And please feel free to email us your queries, feedback, comments, critical thoughts to [email protected]
| Company | Transaction Name | Money Raised | Vertical | Investors |
|---|---|---|---|---|
| ShopUp | Series B extension | $34Mn | B2B commerce | Tiger Global, Valar Ventures, VEON Ventures, Omidyar, Prosus Ventures, Flourish Ventures, and Lonsdale Capital |
| 10 Minute School | Seed | $2Mn | Edtech | Sequoia Capital India |
| Shajgoj | Seed | $2.3Mn | Fashion ecommerce | Sequoia Capital India, SBK Tech Ventures |
| 10 Minute School | Seed | Undisclosed | Edtech | Startup Bangladesh Limited |
| Frontier Nutrition | -- | Undisclosed | Food and beverage | Startup Bangladesh Limited |
| Hello Task | Seed | Undisclosed | Service Marketplace | Startup Bangladesh Limited |
| iFarmer | Seed | Undisclosed | Agriculture | Startup Bangladesh Limited |
| Loop | Seed | Undisclosed | Logistics | Startup Bangladesh Limited |
| Shuttle | Seed | Undisclosed | Transportation | Startup Bangladesh Limited |
| Truck Lagbe | -- | Undisclosed | Logistics | Startup Bangladesh Limited |
| Zantrik | Seed | $1Mn | Transportation | Startup Bangladesh Limited, Bangladesh Angels |
| Shikho | Seed | $4Mn | Edtech | Wavemaker Partners, LearnStart, Anchorless Bangladesh, Vibe Capital, DSG Consumer Partners, Black Kite Capital, Ratio Ventures, and Julian Shapiro |
| Paperfly | Series A | $11.8Mn | Logistics | Ecom Express |
