Total amount raised
$7.5 Millions
Latest funding date
10/01/2023
Location
10 Minute School has raised funds through multiple rounds, with the latest being a Seed round on October 11, 2023. The company has attracted notable investors like Kunal Shah and Conjunction Capital.
Keep reading to explore the intricacies of 10 Minute School's fundraising journey and the investors backing this innovative platform.
What Is 10 Minute School?
10 Minute School, founded in 2015 by Ayman Sadiq, is an educational platform based in Dhaka, Bangladesh. The company offers a wide range of online and offline courses, including video tutorials, quizzes, smartbooks, and live classes.
With a mission to make quality education accessible to everyone, 10 Minute School covers academic content for classes 1-12 and provides skill development programs and English language courses. The platform has a significant social media presence with over 9 million followers.
Currently, 10 Minute School employs between 101-250 people and operates offline centers in various locations, including Uttara, Panthapath, Mirpur, Moghbazar, and Chawk Bazar in Chittagong.
How Much Funding Has 10 Minute School Raised?
- Amount Raised: $2M
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand educational resources and develop new features.
- Amount Raised: $5.5M
- Date: October 2023
- Lead Investors: Conjunction Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To democratize education and provide high-quality, affordable education to millions of students in Bangladesh.
Total Amount Raised: $7.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Conjunction Capital
- Details: Conjunction Capital is a Dubai-based Venture Capital Private Equity firm. They led the $5.5 million Pre-Series A funding round for 10 Minute School.
- Investment Focus Areas: Early-stage technology investments, frontier markets.
- Notable Investments: Not specified in the sources.
- Peak XV's Surge (formerly Sequoia Capital India’s Surge)
- Details: Peak XV's Surge is a well-known venture capital firm with extensive experience in nurturing startups. They participated as a returning investor in the funding round for 10 Minute School.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Known for investing in various successful startups across India and Southeast Asia.
- Startup Bangladesh Limited
- Details: Startup Bangladesh Limited is a government-backed venture capital fund in Bangladesh. They joined the 10 Minute School cap table to support the startup ecosystem and the education sector.
- Investment Focus Areas: Supporting startups in Bangladesh, technology, education.
- Notable Investments: Not specified in the sources.
- Kunal Shah
- Details: Kunal Shah is the Founder and CEO of CRED, a well-known entrepreneur. He participated as a marquee angel investor in the funding round for 10 Minute School.
- Investment Focus Areas: Fintech, technology startups.
- Notable Investments: Founder of CRED.
- Sajid Rahman
- Details: Sajid Rahman is a veteran Bangladeshi Angel investor and Managing Partner of MyAsiaVC. He participated as an investor in the funding round for 10 Minute School.
- Investment Focus Areas: Early-stage startups, technology, innovation.
- Notable Investments: Not specified in the sources.
What's Next for 10 Minute School?
10 Minute School stands at the cusp of a transformative journey, with opportunities to expand its educational resources and services to a larger student base. The recent funding round, which raised Tk 61 crore, underscores the platform's potential to impact over 14 million students annually, particularly in rural and semi-urban areas.
Future fundraising opportunities appear promising as the platform continues to grow and demonstrate its impact. The support from existing investors and the attraction of new ones will likely fuel further development of their K12 and skill development courses. However, challenges such as navigating the early-stage startup ecosystem in Bangladesh and maintaining growth momentum in a slowing economy remain.
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