10 Minute School, the country’s leading online educational institution, has received a fresh investment of Tk 61 crore. The investment is led by venture capital firm Consumption Capital, Peak Fifty’s Surge (formerly Sequoia Capital India), and Startup Bangladesh. With this, the startup has secured a funding round in the pre-series.
10 Minute School authorities confirmed the news. Some of the country’s leading angel investors, Kunal Shah, founder of Indian Unicorn Cred, Sajid Rahman, managing partner of MyAsiaVIC and several local angel investors participated in this year’s investment at 10 Minute School, the company said on Wednesday. This is the highest investment in seed-stage for any Bangladeshi startup. With this, the total investment in 10 Minute School stands at Tk 78 crore.
The company, which started its journey in 2015, is currently regularly helping students of classes 6-12 to prepare for board syllabus-based studies and exams through live classes and examinations in online batches. Every year, more than 10,000 students get GPA-5 by preparing for online batches. Admission is being done in different universities of the country. Along with school and college students, 10 Minute School is also helping university admission candidates and job seekers to prepare. In addition to studying, the organization is also working regularly on the skill development of the students. 10 Minute School has many types of skill development-based courses including Spoken English, ILTS, Software, Soft Skills, and Freelancing.
The 10 Minute School app has more than 35,000 recorded video lectures on the board syllabus of Bangladesh. There are also more than 82,000 quizzes. Apart from this, educational resources like model tests, e-books, and lecture sheets are regularly provided to the students by the 10 Minute School. More than 57 lakh students are using this largest educational app in Bangladesh. Apart from this, more than one crore students are studying online every month from various content on the website and social media of 10 Minute School.
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Commenting on the new investment, Ayman Sadiq, Co-Founder and CEO of 10 Minute School, said, “At 10 Minute School, we are always working to make education accessible to all. This investment supports our goals as well as encourages our activities in the education and skill development sector of Bangladeshi students. With this round of investment, we are now ready to take our vision to new heights to build a smart Bangladesh by 2041 by supporting the next generation in education and skills. ’
Since last year, startups around the world have been hit by economic growth and lack of adequate investment. In the first half of this year, only $500 million of investments came in global startups, compared to $1.8 billion in the same period of 2022. Even in such a situation, 10 Minute School has focused on increasing its business growth by working to improve the quality of its products and services. This has increased the involvement of students across the country with The Ten Minute School. The 10 Minute School app has been downloaded more than 5.7 million times. More than 32 million students are taking free education services from the app. And the number of people seeking services in exchange for money is more than 650,000.
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Mirza Salman Hossain Baig, Co-Founder and Chief Operating Officer (COO) of 10 Minute School, said, “It is an exciting experience to get investment amid the ongoing economic slowdown in the world. It was also a test of our concentration. We thank the investors for supporting our journey to make quality education accessible online across the country. ’
Sami Ahmed, Managing Director of Startup Bangladesh, said, “We are excited to support the journey of 10 Minute School to rebuild the education system in Bangladesh. ’
Kirill Kozhevnikov, Managing Partner of Conjunction Capital, said, “We are delighted to be a part of this important investment phase of 10 Minute School. This is our first venture in the Bangladesh market. We believe that our partnership will help bring about a significant change in the education system in Bangladesh. ’
“Since its inception, 10 Minute School has been working to bridge the gap between traditional and digital learning while making quality education accessible to all students across the country. At 10 Minute School, 52 percent of students are from outside the city. Of these, 34 percent are girls. The company believes that this investment will help 10 Minute School to create an educated and skilled population.
