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Amid a 26% global decline in startup funding from Q4 2023, Bangladesh’s startup ecosystem has also faced challenges, securing $7 million across four deals in Q1 2024—a significant 70% drop quarter-on-quarter. This downturn mirrors broader economic pressures in major Asian markets, such as Singapore and China, which experienced up to 70% funding declines.
Late-stage funding dominated the quarter, accounting for 75% of total investments. PriyoShop’s $5 million Pre-Series A funding round in the e-commerce sector was the highlight, emphasizing a growing preference for mature startups with proven scalability. In contrast, early-stage funding witnessed a 91% drop, reflecting cautious investor sentiment.
Venture capital, predominantly from global sources, contributed 97% of the total funding, with Startup Bangladesh Limited being the sole local investor. This reliance on international capital underscores the need for diversified funding sources to strengthen the ecosystem’s resilience.
Despite current headwinds, the long-term prospects for Bangladesh’s startup ecosystem remain optimistic. Initiatives such as the National Startup Policy and the Bangladesh Startup Summit are set to drive growth, attract global attention, and provide a platform for startups to scale their narratives.
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