Startup Bangladesh Limited Funds 8 More Startups in Vintage 2 Segment
The much awaited funding event of Startup Bangladesh Limited commenced today. The firm invested in 7 startups last year. This year, they announced the funding round of 8 more startups. Each of them showing promise and potential to contribute majorly in the Startup ecosystem of Bangladesh, and hopefully, expansion into global standards as well.
Startup Bangladesh Limited Funds 8 Startups in Vintage 2 Segment
The event was named Vintage 2- Shotoborsho Shoto Asha, studded with honored guests and entrepreneurs. The chief guest of this event was the honourable ICT minister, Zunaid Ahmed Palak, who joined via online meeting.
The Chief special guest was Mostofa Osman Turan, the ambassador of Turkey to Bangladesh, Who is deeply connected to our startup ecosystem. During his speech, he stated,
“I was attending co-working spaces just to chat with startups and entrepreneurs. And I realised there was a new world which is in the making by the startups and their founders. By their creativity, their passion, to address some of the most complex problems of our world. Not only talking about profit but also about creating impact through the businesses they create.”
He also added,
“To create a sustainable business model and to create solutions to complex problems, you need different enablers, different stakeholders, investing and supporting in your endeavours.”
Startup bangladesh Limited wants to become that enabler for startups and founders and create a thriving environment for them to grow. Through mentorship, through subject matter expertise. As a matter of fact, the Head of portfolio and investment of Startup Bangladesh Limited, Hasan Arif, shared his thoughts regarding this topic with the crowd-
“I meet with startup founders and entrepreneurs everyday and I can see their passion and enthusiasm.”
He then proceeded to announce the startups that will be getting funding for this year’s “Shotoborshe Shoto Asha- Vintage 2” funding event.
Selected Startups for Vintage-2
The startups that are selected for this year’s funding round are:
10 minute school
Robi 10 minute school is an EduTech platform in Bangladesh. The firm has posted around 25 thousand videos on a variety of subject and skillsets. Their online batch programme has seen success as well.
The 10 minute school website can help you find what you’re looking for from 10minuteschool.com.
Frontier Nutrition is a foodtech firm. They produce nutritional food products. Their Happiness factory or “Hashikhushi” factory produces organically grown materials that are ysed to make the product. Puffed rice, oil, and lentil are some if the basic ingredients that are used. According to the MC, who stated that he has been to the factory and tasted the product, mentioned that the product quality is excellent.
You can learn and reach out to them through the frontiernutrition.com.
Hellotask is a service platform that provides multiple types of services to its users. Profucts like household help, internet, etc. They already have 100k users according to their application data.
Join the Hellotask platform to learn more.
iFarmer is an agritech firm that helps people develop farming based small businesses, and connect to helpful networks that can help each other and themselves.
Learn more about iFarmer from their website.
Loop is a technology-enabled marketplace for truckload freight services. The platform connects businesses to available fleet owners looking to optimize their workflow and digitize their logistics.
Loop improves the logistics experience by increasing visibility and providing better communications by leveraging software and data points across the in-land supply chain.
Find out more about Loop Freight by following their website.
Daily commute is close to a nightmare in Bangladesh, especially Dhaka Metropolitan. What Shuttle does is reduce individual traffic commute and regroup ride shares as collective transportation. This is a brilliant solution to the rising traffic problems in heavy-duty areas as well as everywhere else.
You can learn more about Shuttle through their website.
After becoming the winner of Startup Bangladesh challenge 2017, Truck Lagbe has only been expanding their work. They are offering life insurance for truck drivers. They have 16 lakh tons of goods imported, connected and working with 1k+ business platforms, and have 5 lakh app users.
Check out Truck Lagbe for further info.
Zantrik is known as an up and coming one-stop application for repair and maintenance of vehicles, paperwork consulting and advisory services, and offering roadside help for emergency cases as well.
Go to Zantrik to know more about them.
Global e-commerce giant Alibaba has bought HungryNaki, a local Bangladeshi food delivery company at around Tk8 crore, to strengthen its footprint in Bangladesh. Established in 2013, HungryNaki is the first on-demand food delivery company in Bangladesh HungryNaki is serving more than 500,000 customers across Dhaka, Chattogram, Sylhet, Cox’s Bazar, and Narayanganj through its network of over 4,000 restaurants in these cities and towns. The company has around 500 drivers and 100 staff. General secretary of the e-Commerce Association of Bangladesh, Muhammad Abdul Wahed Tomal said, “This will be a positive move, “HungryNaki will get bigger.” Bangladesh’s food delivery market has attracted international interest before. Berlin-based Foodpanda launched in the country soon after HungryNaki. More recently, Singapore-based Golden Gate Ventures led a $15 million round for rival delivery service Shohoz. Industry insiders said now the country is witnessing a boom of different types of e-commerce services and global companies are showing utmost interest to invest in the Bangladesh market. Alibaba started investing in Bangladesh by acquiring the largest online shopping company Daraz in 2018. At the same year, “Alipay”, the Chinese mobile payment giant owned by Alibaba Group, bought 20 percent stakes in Bangladesh’s largest mobile financial services provider “bKash Limited”. Alibaba, the Chinese multinational technology company that works in e-commerce, retail, internet, and technology, was founded in 1999. It is one of the top 10 most valuable corporations and is named the 31st-largest public company in the world on the Forbes Global 2020 list. In December 2020, the Chinese authorities launched an investigation into the alleged monopolistic practices of Alibaba Group.
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