In a huge achievement for the EdTech sector in Bangladesh, 10 Minute School, the online education platform, has successfully raised a substantial $2 million in seed funding from Surge, a program by renowned venture capital firm Sequoia Capital India.
This funding milestone marks the first-ever investment secured by an EdTech company in Bangladesh through Surge, igniting hope among local education startups seeking global investments in the wake of the pandemic-driven Surge in demand for online learning.
Despite Bangladesh witnessing foreign investments of over $163 million in local startups in 2021, the online learning segment had received only $1.3 million in notable funding, with Shikho being a prominent recipient.
On the other hand, Indian online learning platforms attracted billions of dollars in investment during the same period, indicating the sector’s potential and opportunities for growth.
Ayman Sadiq, founder, and CEO of 10 Minute School, expressed his optimism about the future of online education platforms, attributing it to the pandemic’s role in validating the importance of digital learning.
The platform experienced a remarkable twelvefold increase in business during the pandemic in 2021, resulting in a substantial expansion of its employee count from 60 to 300.
Over the past year, 10 Minute School has witnessed a meteoric rise, attracting over 9 million new learners, delivering an impressive 8 million learning hours, and adding more than 17,000 new videos to its vast learning ecosystem.
The platform’s recent achievement of surpassing 3 million users has solidified its position as the largest learning app in Bangladesh.
Ayman Sadiq credited the platform’s growth to its top-quality learning content, expressing gratitude for Sequoia Capital India’s Surge program for becoming their first investor, thus endorsing their vision of democratizing access to high-quality education for all in Bangladesh.
Founded in 2015 by Ayman Sadiq and Abdullah Abyad Raied, 10 Minute School aims to revolutionize education in Bangladesh.
With its current offering of over 25,000 classes and skill courses, the platform has ambitious plans ahead, including the launch of live coaching classes for students from classes V to XII and test paper courses for HSC and SSC examinees.
In the forthcoming months, the platform envisions expanding its educational offerings to encompass complete admission and BCS programs, an engaging series of interactive academic books for classes III to XII, and an additional set of 25 highly sought-after upskilling courses.
With a staggering student population of 43 million and a significant youth demographic 5 million, 10 Minute School recognizes the immense potential for supporting and enhancing Bangladesh’s existing education system.
By doing so, the platform aims to contribute to increased employment opportunities and demographic dividends for the nation.
The seed funding infusion from Surge will propel 10 Minute School on an accelerated growth trajectory, enabling it to deliver an unparalleled learning experience for its students and cementing its position as a transformative force within the country’s educational landscape.