Six Startups Get $7.1M Investment From SBK Tech Ventures
Summary
While startup funding has frozen over globally, Bangladeshs ecosystem is thawing thanks to a $7.1 million hot streak from SBK Tech Ventures. The countrys lone women-led VC firm is injecting fresh capital into six local startups Markopolo.ai, Jatri, Solshare, Fashol, Arogga, and 10 Minute School, first reported by TBS.The AI-powered Markopolo.ai and transportation platform Jatri each raised $1.5 million. Climate tech company Solshare landed $1.1 million, while agri-tech startup Fashol, medtech firm Arogga, and edtech player 10 Minute School pulled in $1 million each.Its a major announcement for the Bangladesh startup ecosystem, with SBKs investments this past quarter alone exceeding the total investment raised by local startups in Q1.For SBK founder and managing partner Sonia Bashir Kabir, the deals underscore the firms conviction that Bangladeshi entrepreneurs are "undervalued and unnoticed" despite their ability to create a huge impact by solving issues at scale.Since launching in 2019 as an angel investor, SBK has evolved into an important player in Dhakas startup ecosystem. Nearly two-thirds of SBKs portfolio companies have female founders or executives.While punching below its weight in areas like software exports, Bangladesh offers untapped potential. Capital infusions from local VCs like SBKs can help change the dynamics in the ecosystem while supporting a growing pool of untapped talents and increasing appetite to build consequential tech businesses as the countrys startup ecosystem seeks escape velocity.