Among the Bangladeshi startups, Ten Minute School, the country’s leading online educational institution, has received the highest investment of Tk 61 crore at the seed stage. And with this, the total amount of investment in Ten Minute School stood at 78 crore taka.
The new investment was led by venture capital firm Conjunction Capital, Peak Fifteen’s Surge (formerly Sequoia Capital India) and Startup Bangladesh.
Regarding the investment in Ten Minute School, Sami Ahmed, Managing Director of Startup Bangladesh said, “We are excited to support Ten Minute School’s journey to reinvent the education system in Bangladesh.
Confirming the pre-series funding round, Ten Minute School authorities said that some of the famous angel investors of the country, Kunal Shah, founder of Indian Unicorn Cred, Sajid Rahman, Managing Partner of MyAsiaVC and several local angel investors have participated in this investment in Ten Minute School.
It has been said that since last year, startups around the world are suffering due to lack of economic growth and adequate investment. In the first half of this year, only $500 million was invested in startups worldwide, compared to $1.8 billion in the same period in 2022. Even in such a situation, Ten Minute School has focused on increasing their business growth by working to improve the quality of their various products and services. This has increased the involvement of students of the country with Ten Minute School. The Ten Minute School app has been downloaded over 5.7 million times. More than 32 million students are taking education services free of cost from the app. And the number of services taken in exchange for money is more than six and a half lakh.
Regarding the new investment, Ayman Sadiq, Co-Founder and Chief Executive Officer (CEO) of Ten Minute School said that through this round of investment, Ten Minute School is ready to take its vision to new heights to build a Smart Bangladesh by 2041 by supporting the next generation in education and skills.