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Startup Bangladesh Limited, a flagship venture capital fund of the ICT Division has made its Vintage II investments of Taka 17 Crore to the country’s 8 startups under an initiative `Shotobarshe Shoto Asha’, launched earlier marking the birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and 50 years of independence of Bangladesh. With this second series of investments, a total of Taka 34 crore were given to 15 startups so far to scale up their products and services and improve their qualities. Startup Bangladesh will give Taka 100 crore to 50 startups to create entrepreneurs and employment in the country. A total of 17 crores is committed to 8 startups ranging from seed to growth stage in Vintage II.
The 8 startups are:
Largest Online EdTech Platform in Bangladesh
10 Minute School is one of the leading EdTech startups in Bangladesh with the largest volume of content, user base, and social subscribers. 10 Minute School provides academic live classes, video tutorials, smartbooks, infographics, and quizzes on a freemium basis all across Bangladesh with their mobile app and website.
Nutritious, Affordable, and Delicious Fortified Packaged Foods for LIC
FNI develops, manufactures, and markets packaged food products under the brand HASHI KHUSHI. Their products and strategies are based on research in pediatric nutrition and behavioral marketing. The recipes are localized for traditional diets and optimized for taste, nutrition, and price. A single serving contains 30% of the recommended daily requirement of 6 to 10 of the most important micronutrients for Bangladeshi families.
Reskilling Bangladesh’s Domestic Workers
HelloTask is an on-demand caregiver sourcing platform, which connects users with the nearest available caregivers on a pay-per-use or subscription basis. The service delivers helpers for housekeeping, cooking, baby care, and elderly care while ensuring a helper sourcing experience for users. Through HelloTask, the domestic helper’s community can earn on an increased income scale.
Democratizing agriculture financing and supply chain in Bangladesh
iFarmer is an agri-tech platform that connects farmers with access to finance, training, knowledge, and the market. iFarmer also enables individuals (such as the urban middle-class population) and facilitates institutions (banks and financial companies) to fund farms and earn a profitable return, through regular and Shariah-compliant investment options.
Redesigning Next Generation Logistics for Bangladesh and South Asia
Loop is redesigning the movement of commercial goods for the next generation of manufacturers and logistics carriers.
Offering Safe and Affordable Transportation for Women
Shuttle is a mass-transit startup based in Bangladesh that provides safe transportation at an affordable price by moving more people with fewer vehicles and caters to both B2B & B2C customers. Within a very short period, it has become the staple vehicle for hundreds of women, especially university students and officer goers around the city.
Bangladesh’s #1 technology platform for booking trucks
Truck Lagbe is leveraging technology to optimize trucking logistics. Customers place shipping orders on the platform, and truck drivers bid for trips through an online auction conducted in minutes.
Digitizing and standardizing the automotive maintenance industry
Zantrik is setting standards in Automotive maintenance by connecting the stakeholders in this ecosystem (Vehicle owners, Technicians, Drivers, Garages) with technology, and providing value for money, transparency, and convenience for everyone. Its ultimate vision is to build an “OYO Like” franchise model for garages that can be scaled across geographical boundaries.
LightCastle Partners and The Legal Circle act as Buy-side Advisors and Due Diligence Partners to Startup Bangladesh Limited, the flagship venture capital fund of the ICT Division.
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