Four startups to get Tk8 crore investment

Mega investments were pledged on Monday for startups attending the grand finale of Robi's flagship digital entrepreneurship contest r-ventures 3.0.

Curtain fell on the startup incubation programme at a city hotel amid the participation of 11 finalists, says a press release.

At the event, top four startups together are set to receive Tk8 crore investment from a Robi subsidiary, SBK Tech Ventures, state-run Startup Bangladesh Ltd and angel investor Kaniz Almas Khan. Three more startups are also set to receive at least Tk50 lakh investment each.

Furthermore, ICT State Minister Zunaid Ahmed Palak announced investment of Tk10 lakh from the ICT Division to all the 11 participating teams.

Palak congratulated the 11 teams saying, "In the process of building a Smart Bangladesh, entrepreneurs like you will play the pivotal role." He thanked Robi for working as a friend of the government to help build "Digital Bangladesh."

Details of the pledged investment

The top four digital start-ups are set to receive in total more than Tk2 crore worth of investment from RedDot Digital Ltd, a subsidiary IT company of Robi Axiata Ltd and sponsor of r-ventures private equity fund.

They would also get Tk3.5 crore from SBK Tech Ventures and angel investor Kaniz Almas Khan as well as Tk2.5 crore from Startup Bangladesh Ltd.

Breaking down, ecommerce startup Digi Dokaan Limited would get Tk1.5 crore from the Robi subsidiary, SBK Tech Ventures and Startup Bangladesh Limited; fintech company HishabPlus would get Tk1.25 crore from SBK Tech Ventures, Robi subsidiary and Kaniz Almas Khan; online legal service provider Uqeel would get Tk1 crore from SBK Tech Ventures and Kaniz Almas Khan and the fourth company Jomma would get Tk2 crore from SBK Tech Ventures and Robi subsidiary.

In addition, Drishti specialising in assistive technology would get Tk25 lakh, and at least Tk50 lakh would be invested in ANTT Robotics, YOUR-Campus and garments tech startup Fabric Lagbe Ltd.