Chaldal.com, an online grocery delivery company, has received an additional investment of Taka 5 crore from state-owned flagship VC fund Startup Bangladesh Limited at the growth stage. The company made this investment jointly with venture capital firm Taavet+Sten.
In the third round of receiving investment, Sami Ahmed, Managing Director of Startup Bangladesh, handed over the follow-on investment contract and check to Wasim Alim, Managing Director of Chaldal Limited at Gulshan office.
Chaldal co-founder Zia Ashraf and Startup Bangladesh company secretary Monirul Islam, investment manager Md. Dewan Adnan, investment associate Md. Anwar Zahid and others were present at that time.
On receiving this follow-on investment from Chaldal, ICT State Minister Zunaid Ahmed Palak MP said, ‘Bangladesh is a promising country in the region as an area of venture capital and private equity investment for the startup industry. Startup Bangladesh Limited is investing in promising startups that are capable of finding vital solutions to national needs in building a smart Bangladesh and contributing to our national achievements by investing in startups. I am happy today that Chaldal is playing an important role in meeting the needs of the market by innovating their ideas and technologies and contributing to the spread of accessible and affordable products and services for all.”
Startup Bangladesh Limited Managing Director Sami Ahmed said, “Chaldal is an example of a pioneer to follow. The company was part of our first batch of investments and has grown exponentially year on year since then. We are proud to invest in Chaldal again and hope to break new boundaries for the Chaldal ecosystem. Bangladesh’s startup ecosystem is full of entrepreneurs who can reach new limits and move the industry forward with their determination and hard work. I wish Chaldal and their team every success and congratulate them on the investment from Startup Bangladesh.”
Wasim Alim, Managing Director, Chaldal Limited said, “We are extremely proud of our relationship with Startup Bangladesh Limited. Being one of the first batch of companies that Startup Bangladesh has invested in, they have been interested in our follow-on investments in previous rounds. I believe with this funding, we will be able to further expand our operations and venture into logistics, online pharmacy and payments. Chaldal will focus entirely on Bangladesh and its future.
Earlier in 2021, Startup Bangladesh invested BDT 715 crore in the seed stage. At that time Chaldal got the first investment. Then in the same year, this startup e-commerce got investment again. However, the amount of money invested was not disclosed.
Wasim Alim, Zia Ashraf and Tejas Vishwanath established Chaldal in 2014. The company has experienced strong growth since its inception. Currently Chaldal delivers around ten thousand orders per day and serves around half a million families every year. Chaldal currently operates from 32 warehouses located in Dhaka, Chittagong, Narayanganj, Gazipur, Jessore, Khulna, Sylhet and Rajshahi. About 3 thousand employees are currently working in the company.
