The growth and creativity of Bangladesh’s tech startup scene has been remarkable in recent years. The success of these startups has been brought forward by strong economic foundations, a digitally smart young demographic, and supportive government initiatives. The past year has specifically been a year of demonstration of resilience and adaptability for these successful startups in Bangladesh.
Undoubtedly, the digital revolution of the country has played a key role in ushering this growth in the sector despite ongoing global economic uncertainties. Among the many rising stars in the game, some names have stood out in triumphant glory, as showcased through their ability to leverage the energetic youth demographic.
Their disruptive nature of business has stood ground while their commendable performance over the years has been able to make their marks in the minds of every market enthusiast of the country.
Let’s get familiar with what we consider to be a list of the top players in the startup ecosystem of Bangladesh. The names in this list represent the top startups in Bangladesh due to their journey as observed and assessed over the years till present day.
1. ShopUp
ShopUp is the country’s largest full-stack B2B commerce platform. ShopUp is one of the ventures that are responsible for the record inflow of international funds into the country’s economy as of 2021. It is no surprise that ShopUp has seen the level of success that they have, as they have fulfilled the incredible role of bringing neighbourhood shops and online sellers onto a single platform. During the pandemic, ShopUp’s client-base grew exponentially as even local, small businesses shifted to online platforms for operation. The transacting shops grew 8.5x within just a few months. ShopUp’s journey has integrated the needs and demands of people and business from the bottom-up.
2. ShareTrip
Starting off in 2019, ShareTrip is now the leading travel tech company of Bangladesh. With 49% of the market share, they are generating a gross revenue of over BDT 1000 crores per year. Impressively, they were the first to introduce a Travel Credit Card in Bangladesh in partnership with EBL and Mastercard. ShareTrip won the Digital Commerce of the Year 2022 at the ICT Awards by The Daily Star, among other numerous accolades including best performance awards from all domestic and international airlines. Recently, they have launched their lifestyle brand. This was further noted with the launch of their very own digital wallet, ST Pay. Through their innovative measures, they are transforming the tourism sector of the country. The company’s total funding raised to date is around US$7 million, according to TechInAsia. ShareTrip’s trailblazing strides of achievement show great promise and it is anticipated that they have much more in store for us to witness.
3. Pathao
Pathao is the country’s leading ride-sharing, food delivery and e-commerce logistics platform. Since entering the scene, they have built a customer base of over 7 million with 3 lac drivers and over 50000 merchants. Pathao’s initiatives have not only grown to change the ride-sharing and e-commerce scenario of Bangladesh within the country but also beyond it. Last year, they were named as one of the 40 global tech companies that are beating their Western competitions. They have not only expanded regionally but also beyond the borders of the country into Nepal. Moreover, the Employment Catalyst Award signifies Pathao as a significant contributor to job creation in the country. Recently, they have introduced their own digital wallet, Pathao Pay.
4. ChalDal
ChalDal is Bangladesh’s largest grocery delivery platform. ChalDal has been revolutionary in the way people shop for their daily necessities. Making grocery shopping more accessible and convenient than ever before, ChalDal has emerged as the top player in its own field. While other platforms also provide similar services, ChalDal remains to be the most successful platform that solely caters through this specific service portfolio. While they were initially picking up orders from local grocery shops, ChalDal has since then grown its very own network of product warehouses across the country.
5. 10 Minute School
10 Minute School is currently the country’s largest education app. They offer video tutorials of all topics based on the board syllabus of class 1st-12th, entrance exam preparation, skill development courses, or job preparation all in one app. More than 3.5 million students are simultaneously studying using the app everyday. Last year they raised BDT 61 crores in Pre-series A round funding. This was the largest seed-stage investment ever received by a startup in Bangladesh. 10 Minute School has been extremely impactful when it comes to providing study resources to the K-12 demographic in Bangladesh, while also catering to other various skill development needs of the people.
6. Pickaboo
Pickaboo is a hybrid digital and offline e-commerce platform. Their products are mostly electronic gadgets such as mobile phones. One of the main reasons why Pickaboo has excelled as an e-commerce company in the highly competitive scenario of Bangladesh is because they have established themselves as a reliable and trustworthy retailer when it comes to the kind of products they sell. Last year they raised $1.5 million in the Pre-Series A round of financing led by IDLC Venture Capital Fund I. The new funding will most likely lead the company towards much more success in the future.
7. Sheba.xyz
Sheba Platform is a local service provider platform operating in Bangladesh. They were one of the companies that was awarded by Daily Star ICT Awards in the “ICT Startup” category. Since then, the company size has grown from 50 employees to over 500. Sheba has been empowering over 1.5 million small businesses across the country. Sheba’s impact has been the most significant for the blue-collar workers of the country. They operated through sManager to expand their business while also providing B2B solutions through sBusiness. Their activities aim towards the expansion and growth of SMEs along with their own, bringing them under the umbrella of financial and digital inclusivity.
8. Truck Lagbe
Truck Lagbe operates through their app to provide online truck rental services. They aim to make the trucking industry optimised by playing the key role in managing truck logistics and connecting customers to registered trucks. This helps customers avail instant trucking services while also making a huge difference for the marginalised trucking community of Bangladesh by representing them on a digitally sound and successful platform. In 3 rounds, Truck Lagbe has raised a total funding of $4 million. We can expect Truck Lagbe to make use of this and make brand new strides in the industry through their initiatives.
9. iFarmer Limited
iFarmer is a full-stack agriculture tech company in Bangladesh. They provide agri-based services to the farmers of the country. In 2022, they raised $2.1 million in funding by IDLC Venture Capital Fund. Even though they started relatively not too long ago, they have become the largest agri-tech company in Bangladesh and have maintained their accelerated growth. iFarmer aims to be a one-stop solution for farmers. They came in aid of smallholder farmers by giving them the opportunity to compete in the market. Agriculture is a major part of the GDP of Bangladesh. Hence, it is safe to say that iFarmer is making invaluable contributions by supporting the farmers of the country.
10. Praava Health
Praava Health is one of the most innovative startups in Bangladesh as it is a healthcare startup that caters to millions across the country. Praava’s lab has been accredited by the Bangladesh Accreditation Board. Moreover, it has also established itself as one of the only six internationally accredited labs in the country. Praava’s business model has been the subject of study and research for world-renowned institutions such as Harvard University and Columbia University. One of their noteworthy achievements includes their molecular cancer diagnostics in Bangladesh. It has set the stage for cancer treatment by including targeted therapy. Praava’s NPS has been observed to be consistently higher than most Fortune 500 companies.
