Edvive, a Bangladesh-based education technology startup, has recently raised $50,000 in a pre-Seed funding round led by four Bangladeshi technology investors with a collective experience of 20 years in the industry.
The investors are: Tanvir Ahmed, It Business Consultant, Edmonton, Canada; Mohammad Ibrahim, Computer Engineer, ADNOC Offshore, UAE; Muhammad Mainul Hossain, CEO, TechOptions; and Md Matiur Rahman, Managing Director and CEO, ByteCode Limited.
With this investment, the startup plans to develop its app-based supports and microservices for a better user experience, acquire sizable global users by the year 2023, build a strong user network in universities and high schools, and hire new talents.
Founded in 2020 by Mohidul Alam, Edvive is currently working with a multiverse of language learning apps to help users learn a language in the most efficient way. The platform is designed to operate with one primary purpose, to help an individual get better at speaking English and get them ahead in their life path.
Speaking about the capital raised, Founder and CEO of Edvive, Mohidul Alam, said:
“This funding will be an eye-opener to the investors helping young entrepreneurs to solve real-life problems. All credit goes to our amazing mentors, advisors, and humble team members who have been a part of the journey from day one.”
Alam further added:
“As a young person of Bangladeshi descent, raising investment is extremely difficult, but our incredible mentors, advisors, and team members made it possible. For me, maintaining both academics and business while finishing high school and creating a tech startup was more difficult. However, with the growth of a startup ecosystem, I see a sizable potential 46 billion dollar global language learning market in the future.”
Edvive claims to have already served 29,000 students and collaborated with significant stakeholders such as the British Council, IDP, and Education USA.
According to sources, the company is currently in the pivot mood of product development and will use the latest funding for global user acquisition.
Edvive previously received $300,000 worth of in-kind service benefits support from ‘Microsoft for Startups’ and ‘Google for Startups’ programs. Additionally, they had also received $12,000 worth of project grant from the Bangladesh government’s iDEA project grant this year.