Business Desk :
Bangladesh’s online grocery startup Chaldal raised Tk 5 core from Startup Bangladesh Limited, the first government-backed and flagship venture capital fund.
Startup Bangladesh has co-led Chaldal’s Series C Plus fundraising round with Taavet+Sten, a venture capital firm, and invested Tk 5 crore, according to a statement issued on Tuesday.
Earlier in 2021, Chaldal raised an undisclosed amount of funds from the Startup Bangladesh when the venture capital fund invested Tk 15 in seven local startups.
“I am glad to see that Chaldal, through their ideas and innovation with technology, are playing a critical role in addressing the market needs and contributing to developing products and services that can be accessible and affordable for all,” said Zunaid Ahmed Palak, state minister of ICT.
Bangladesh holds the most promising opportunity for venture capital and private equity investments for Startup Industry in the region, he said.
“Startup Bangladesh Limited is investing in startups that are contributing to our national achievement through their crucial and essential solutions towards building Smart Bangladesh,” he added.
“Chaldal Limited is one of the pioneers in the industry and an example for others to follow. The company was part of the first batch of our investments and since then has grown tremendously year on year,” Sami Ahmed, managing director at Startup Bangladesh.
“We are immensely proud of our relationship with Startup Bangladesh Limited. Having been one of the companies from the first batch in which Startup Bangladesh has invested, they have also supported us with follow-on investments in our previous rounds,” said Waseem Alim, managing director at Chaldal.
“I believe with this fund we will be able to expand our operations further and venture into logistics, online pharmacy, and payments. Chaldal is wholly focused on Bangladesh and its future.”
