Bangladeshi startups have brought in over $125.7 million over the past eight-and-a-half months. But is there a hospitable ecosystem to sustain and foster their development?
“Truck Lagbe” – a Bangladeshi startup – recently received $4 million funding in Series A from International Finance Corporation (IFC), the private sector investment wing of the World Bank. IDLC VC fund co-invested with IFC in this deal. “Chaldal” – another rising e-commerce platform – received $10 million worth of foreign funds for expansion in series C. Earlier, “Shop up” also received Tk6.4 billion ($75 million).
Over the past eight-and-a-half months, Bangladeshi startups have raised funds of $125.7 million, which is 30% of the $419 million – raised since 2010.
In light of these recent developments, it is time we take a look at the startup ecosystem in Bangladesh.