Bangladesh-based edtech startup Shikho has raised $1.3 million in a seed funding round co-led by LearnStart, the seed fund of Learn Capital, and early-stage VC Anchorless Bangladesh, according to an announcement.
Other investors including Wavemaker Partners and Ankur Nagpal, founder and CEO of Teachable also participated in the round.
Shikho will use the proceeds from the financing to accelerate product development and bring on new hires as they continue to expand at a time where demand for digital education has consistently risen throughout the pandemic.
Founded in April 2019, Shikho is an education technology (edtech) company building a hyper-localised digital learning ecosystem centered on modernising the delivery of the Bangladeshi National Curriculum.
The company adapts material from the national curriculum, helping students using the app to transition more easily to online learning environments by engaging them with the material they are already accustomed to in traditional classrooms.
Through Shikho’s online platforms, students will soon be able to attend both live and pre-recorded classes taught by subject experts and professional instructors, allowing them to gain access to high-quality instruction that may otherwise be outside of their reach in physical classroom settings. Students can learn at their own pace with content accessible from anywhere and anytime at a fraction of the cost of traditional online learning and tutoring services.
Shikho now plans to continue building advanced features for its learning app, including personalization, granular data analysis, live quizzes, and introducing a new web portal and parent app.
In the future, the company plans to expand its offerings to cover the entire educational journey of Bangladeshi students across primary, secondary, tertiary, and continuous professional learning.
Prior to this round of financing, Shikho raised $275,000 in pre-seed financing from LearnStart and strategic angel investors.
LearnStart is the seed fund of Silicon Valley-based global education technology investment specialists Learn Capital. Learn Capital is a venture capital firm focused on breakthroughs in education technology.
Anchorless Bangladesh is activating the unique resources of the country by facilitating global capital aiming for outsized returns and impact. The New York-based venture capital fund has a local team dedicated to working closely with founders, the startup ecosystem and other local stakeholders to unlock opportunities.