Chaldal Limited received investment from Startup Bangladesh Limited, the first government-backed, and premier venture capital (VC) fund, during their Series C Plus funding round.
Chaldal Gets 5 Crore Investment in Series C Co-led by Startup Bangladesh
Together with Taavet+Sten, Startup Bangladesh co-led the round and contributed Tk 5 Crore for Chaldal. State Minister for ICT Division Zunaid Ahmed Palak said,
“Bangladesh holds the most promising opportunity for venture capital and private equity investments for Startup Industry in the region. Startup Bangladesh Limited is investing in startups that are contributing to our national achievement through their crucial and essential solutions towards building Smart Bangladesh.”.
Sami Ahmed, the managing director of Startup Bangladesh Limited stated,
“Chaldal is one of the pioneers in the industry and an example for others to follow. The company was part of the first batch of our investments and since then has grown tremendously year on year. We are proud to be investing in Chaldal once again and hope that Chaldal will break new boundaries for the ecosystem,”
Waseem Alim, the managing director of Chaldal Limited, said,
“Having been one of the companies from the first batch in which Startup Bangladesh has invested, they have also supported us with follow-on investments in our previous rounds. I believe this fund we will be able to expand our operations further and venture into logistics, online pharmacy, and payments. Chaldal is wholly focused on Bangladesh and its future.”
Chaldal is an online grocery delivery service that Waseem Alim, Zia Ashraf, and Tejas Viswanath launched back in 2014.
The state Minister for ICT Division Zunaid Ahmed Palak also stated,
“I am glad to see that Chaldal through their ideas and innovation with technology, are playing a critical role in addressing the market needs and contributing to developing products and services that can be accessible and affordable for all, “
Since the company’s inception, it has grown significantly. Currently, Chaldal serves over 500,000 families annually and distributes about 10,000 orders per day. 32 warehouses in Dhaka, Chattogram, Narayanganj, Gazipur, Jashore, Khulna, Sylhet, and Rajshahi are where Chaldal now conducts business. It is the sole largest employer in Bangladesh’s high-tech parks. There are currently about 3,000 people working with the company overall.