Sunday, August 7, 2022

Dhaka-based startup Advive raises US$50K in pre-seed round

Advive, an ed-tech startup based in Bangladesh, recently raised USD 50,000 in pre-seed investment. 4 Bangladeshi technology investors with over 20 years of collective experience in the industry led the investment round. The investors are: Tanveer Ahmed, IT Business Consultant, Edmonton, Canada; Mohamed Ibrahim, Computer Engineer, ADNOC Offshore, UAE; Mohd Mainul Hussain, CEO, TechOption; and MD Matiur Rahman, Managing Director and CEO, Bytecode Ltd.

Earlier this year, Advive received USD 300K worth of in-kind service benefit support from the ‘Microsoft for Startups’ and ‘Google for Startups’ programs. Additionally, he had also received a project grant worth USD 12K from the iDEA project grant from the Government of Bangladesh this year.

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Advive is currently working with language learning apps to help users learn languages ​​in the most efficient way possible.

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The team has already served 29,000 students and collaborated with key stakeholders such as the British Council, IDP and Education USA. According to sources in the startup, they are currently in the prime mood of product development and will use the existing funding for global user acquisitions.

Mohidul Alam, Founder, Advive says, “This funding will be an eye-opener for investors looking to help young entrepreneurs solve real-life problems. All credit goes to our amazing mentors, mentors and courteous team members who have been a part of the journey from day one.”

“As a young man of Bangladeshi origin, raising investments is extremely difficult, but our incredible mentors, mentors and team members have made it possible. For me, both academia and business have been involved while finishing high school and building a tech startup. It was more difficult to maintain. However, with the growth of the startup ecosystem, I see a huge potential future market for global language learning of $46 billion.”

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With this investment, Advice plans to develop its app-based support and microservices for better user experience, achieve large global users by the year 2023, build a strong user network in universities and high schools, and hire new talent. has created.

Nation World News Desk
Nation World News Desk
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