Bangladesh's Shikho raises $4 million seed round led by Wavemaker Partners

Shikho, an education technology startup based in Dhaka, Bangladesh, raised $4 million in a new seed round reported on March 29, 2022. The round was led by the venture capital firm Wavemaker Partners.

Returning investors LearnStart, Anchorless Bangladesh and Vibe Capital took part again, and they were joined by DSG Consumer Partners, Black Kite Capital, Ratio Ventures and an individual investor. Together with $1.3 million raised in August 2021, the round brought Shikho's total funding to $5.3 million. The company said the money would go toward extending its content to grades 6 to 8, adding vocational and language courses and relaunching its professional courses platform Bohubrihi.

Shikho offers a mobile learning app with animated video lessons, practice questions, performance analytics, study notes and live classes. Its courses cover preparation for the Secondary School Certificate and Higher Secondary Certificate examinations as well as university entrance tests. At the time of the round the company reported more than 350,000 learners spread across all 64 districts of Bangladesh, with paying subscribers using the app for an average of 68 minutes a day. The company also owns Bohubrihi, a platform for professional courses, and said its team had grown from 60 to more than 300 people since August 2021, working across four locations.