Dhaka-based startup Edvive raises USD 50K in pre-seed round
Edvive, an ed-tech startup based in Bangladesh, has recently raised USD 50,000 in pre-seed investment. 4 Bangladeshi technology investors with a collective experience of 20 years in the industry, led the investment round. 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.
Previously this year, Edvive had received USD 300K worth of in-kind service benefits support from 'Microsoft for Startups' and 'Google for Startups' programs. Additionally, they had also received a USD 12K worth of project grant from the Bangladesh government's iDEA project grant this year.
Edvive is currently working with a multiverse of language learning apps to help users learn a language in the most efficient way.
The team has already served 29,000 students and collaborated with significant stakeholders such as the British Council, IDP, and Education USA. According to sources within the startup, they are currently in the pivot mood of product development and will use the current funding for global user acquisition.
The founder of Edvive, Mohidul Alam says, "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."
"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," he adds.
With this investment, Edvive plans to develop its app-based supports and microservices for a better user experience, acquire sizeable global users by the year 2023, build a strong user network in universities and high schools, and hire new talents.