Shikho, a Bangladesh-based education technology startup, recently announced that it has raised $900,000 in a strategic funding round from Goodwater, Sturgeon Capital, Black Kite Capital, and the local philanthropic organization SAJIDA Foundation. With this investment round, the startup plans to democratize access to high-quality education in Bangladesh and expand its reach and impact, according to the press statement.
Co-founded by Shahir Chowdhury and Zeeshan Zakaria in 2019, Shikho allows students to learn independently, test themselves, and get ahead with its expert teachers anytime and anywhere. The platform offers students with academic courses that include affordable digital resources and tools to help students succeed in national board exams. The company aims not only to modernize traditional education but also to make available new learning techniques using modern technology and the Internet to deliver quality education across the country.
Commenting on the fundraising, Co-founder & CEO of Shikho, Shahir Chowdhury, said:
We are incredibly excited to create new partnerships with investors who believe in our mission and are committed to helping us realize the dream of a Smart Bangladesh. Grateful to have the support of new international investors who see the potential in Bangladesh even in this uncertain global economic climate, and with SAJIDA Foundation’s involvement, we have a trusted partner on the ground who is as passionate about impact as we are.
Shikho’s learning app also includes features such as in-app testing, automated analysis and reporting of results, a recommendation engine that prompts students to watch videos based on their testing performance, and various gamification features that allow students to earn points and badges as they progress through their syllabus. It aspires to improve educational outcomes for students by gamifying the learning experience.
The latest round makes Shikho the highest-funded EdTech startup in the country. It claims to have reached over two and a half million students in 2022.
Chief Executive Officer of SAJIDA Foundation, Zahida Kabir, said:
We are proud to partner with Shikho in their efforts to improve access to quality education in Bangladesh. Shikho’s innovative platform has the potential to transform the way students learn and we look forward to supporting their continued growth.
Alex Branton, Partner, Sturgeon, commented:
We at Sturgeon are thrilled to announce our investment in Shikho, the most innovative and exciting EdTech company in Bangladesh. Led by the exceptional founders Shahir and Zeeshan, Shikho is creating an education platform that is unparalleled in its quality, accessibility, and affordability. We are excited to be a part of their journey and look forward to seeing the positive impact Shikho will have on education in Bangladesh.
Last year in March, Shikho raised $4 million in a seed round led by Wavemaker Partners. Other investors, including LearnStart, Anchorless Bangladesh, Vibe Capital, DSG Consumer Partners, Black Kite Capital, Ratio Ventures, and Demand Curve founder Julian Shapiro, also participated in this round. The firm’s current funding brings its total raised to $6.5 million.