SBK Tech Ventures invests $7.1 million in 6 Bangladeshi startups

SBK Tech Ventures, led by Sonia Bashir Kabir, has unveiled its' recent investments of $7.1 million (TK 85 crores) in six local startups.

The startups are- Markopolo.ai, Solshare, Fashol, Jatri, Arogga and 10 Minute School.

Of them, AI-powered platform Markopolo and tech-enabled mobility solutions provider Jatri bagged $1.5 million in investments each; climate tech-based startup Solshare got $1.1 million, while agro-based Fashol, med-tech Arogga and ed-tech based startup 10 Minute School received $1 million investments each. 

Four of the fundings were led by Bangladesh's only woman-led venture capital firm - SBK Tech Ventures. 

SBK funds Bangladeshi tech startups only; their minimum ticket size is $ 1 million per startup. SBK is also the first and only VC in Bangladesh to run in-house accelerators: "Net Positive"&"ExcelerateHer", an in-house incubator; "YES, She Can", plus a licensed VC fund.

Sonia Bashir Kabir, founder & 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 help drive inclusion, empathy, and innovation- ignite sustainable economic development. We are ecstatic about partnering with these incredible founders who will be making history! With our investments, we aim to achieve our long-term vision of engaging with stellar founders who hit inflection and escape velocity," she added. 

SBK has evolved over the past 4 years. 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% (annualized ROI of 105.98%).

SBK has a plan to fund more startups in Bangladesh, building enduring businesses and continuing to grow its focus on women's participation in the digital economy and bridging the gap between innovation and impact regarding climate change.