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Wavemaker leads $4m round of Bangladeshi edtech startup

Shikho, an edtech startup based in Bangladesh, has raised US$4 million in a seed round led by Wavemaker Partners.

The investment is in addition to the US$1.3 million in seed funding that Shikho secured in July 2021 from Silicon Valley-based LearnStart, Anchorless Bangladesh, and Wavemaker.

Shikho offers academic courses for the Bangladeshi national curriculum secondary school certificate, higher secondary school certificate, and competitive university entrance exams. Its platform provides on-demand video lessons, live classes with tutors, data analytics to track performance and progress, and more.

Nearly 350,000 users across 64 districts of Bangladesh are using Shikho’s mobile platform, which launched in November 2020. Paid subscribers currently spend an average of 68 minutes on the app daily, according to the company.

Shikho was founded in 2019 by Shahir Chowdhury and Zeeshan Zakaria. The startup plans to use the fresh funding to provide courses for classes 6, 7, and 8 as well as enhance its offerings for vocational and language skill-building.

“Since August 2021, the team has grown from 60- to over 300-strong spread across four different locations [in Bangladesh], and we plan to continue strengthening several departments,” Chowdhury said in a statement.

The company told Tech in Asia that it previously raised a total of US$375,000 in two pre-seed rounds from LearnStart and a few angel investors in 2020.

In August 2021, Shikho partnered with Indian edtech platform Teachmint to use the latter’s live teaching technology.

Source: https://www.techinasia.com/