6 tech startups got investment worth Tk 85 crore from SBK Ventures
SBK Tech Ventures, the only women-led venture capital (VC) of Bangladesh, has invested USD 7.1 million (Tk 85 crore) in six new startups. Under this, each startup is getting 1 to 1.5 million US dollars.
SBK invests as an 'angel investor' in technology startups, according to a press release on Wednesday (May 15). Among the companies that received their investments, Marcopolo received $1.5 million, SOLshare received $1.1 million, Fasal received $1 million, Jatri received $1.5 million, Arogya received $1 million, Ten Minute School received $1 million.
Sonia Bashir Kabir, founder and managing general partner of SBK Tech Ventures, said, 'There are huge opportunities for domestic entrepreneurs to run their businesses using technology. I am hopeful that the companies invested in this time will solve the problems of common people and bring positive changes in the society using technology.'
Among the investors, AI-powered automation tools provider 'Marcopolo' helps vendors ensure data protection by using AI-based platforms and automation tools to enhance digital operations. A pioneer in the renewable energy sector, SOLshare is working on smart energy storage and distribution through cutting-edge patented technology.
Agri-tech startup 'Fasal' is providing cutting-edge technology through a marketplace for the welfare of farmers, agri-entrepreneurs and consumers. Technology-based mobility solution 'Jatri' is working to improve the unplanned and unsustainable public transport sector in Bangladesh. 'Arogya' is delivering quality medicines to consumers at affordable prices. Ten Minute School K-12 (Kindergarten to 12th Class) and Skill Development Edutech platform, with the clear aim of building a quality learning environment in Bangladesh.
SBK started its journey four years ago through angel investing and building the startup ecosystem. Currently, SBIC has 46 startups in its portfolio and in 2020, the firm made its first exit from angel investing with a return of 1700 percent (105.98 percent annual ROI) from a startup.
