SBK Tech Ventures, Sonia Bashir Kabir’s venture capital (VC) firm, announced a total of $7.1 million (Tk85 crore) investment in six local startups.
The six startups include Markopolo, which received $1.5 million in investment, followed by Jatri with also $1.5 million, Solshare with $1.1 million, lastly Fashal, Arogga and 10 Minute School with $1 million each.
Of the six, Markopolo and Arogga are women-led startups.
SBK funds Bangladeshi Tech startups only; their minimum ticket size is $1 million per startup.
It is also the first and only VC in Bangladesh to run in-house accelerators: “Net Positive” & “Excelerate Her”, an in-house incubator; “YES, She Can”, as well as a licenced VC fund.
Sonia Bashir Kabir, founder and managing general partner of SBK Tech, said: "Bangladeshi startup founders are undervalued and unnoticed .They have numerous opportunities for delivering impact through tech-enabled business models. The total investment in this round reflects our confidence in the success of these startups which solve problems of the masses, leverage technology to scale and create a transformative impact."
"We are passionate about supporting our local entrepreneurs to help drive inclusion, empathy, and innovation- ignite sustainable economic development. With our investments, we aim to achieve our long-term vision of engaging with stellar founders who hit inflection and escape velocity," she added.
Markopolo provides AI-powered growth automation tools for any small and medium sized businesses where marketers seek AI powered platforms and automation tools to grow their digital footprint while ensuring data security.
Investing in Markopolo allows SBK to support the digitization efforts of businesses across Bangladesh, fostering economic growth and inclusion.
Solshare has emerged as the trailblazer in the renewable energy sector, paving the way for advancements in smart energy storage and distribution through their in-house developed innovative patented technology.
Proceeds from the current round of financing will allow Solshare to prioritize scaling their cutting-edge technology and deploy solutions to address pressing environmental challenges in the battery technology and electric three-wheeler industry.
Fashol Marketplace provides innovative tech solutions for stakeholders in the agriculture supply chain, aiming to empower Farmers, agri entrepreneurs and buyers.
The latest financing round will enable Fashol to expand its farmers center network and distribution network, facilitating the export of local farmers’ products to global markets.
Jatri provides tech-enabled mobility solutions for the largely inefficient, traditional, and highly fragmented mass transit sector of Bangladesh.
Arogga is a medicine delivery startup which facilitates access to authentic, affordable, and timely medication attributing to its innovative in-house logistics to foster inclusion and empathy at scale.
The current round of financing will be utilized to expand operations, product offering and extend outreach to serve the broader masses of the country while focusing on building the best technology, enabled medicine delivery network, expansion into other verticals such as lab testing, home sample collection, doctor consulting and already in talks with the largest health insurance company for products on their platform.
10 Minute School (10MS) is the leading K12 and skills development edtech platform in the country with a clear mission of building the education stack of Bangladesh.
SBK’s investment is a recognition of 10MS, as a pioneering force in reshaping the education sector in Bangladesh beyond aligning with its ethos of fostering innovation for positive change.
SBK has evolved tremendously. When it was incorporated 4 years ago, it started with angel investing and startup community building.
Currently, SBK has 46 startups in their portfolio and one exit from the first angel investment made in 2020 with a return of 1700.00% (annualized ROI of 105.98%).
