10 Minute School, an online education platform, recently announced that it has raised foreign investment of Tk 17 crore. The company received investment as the first Bangladeshi EdTech company under the ‘Surge’ program of Sequoia Capital India, one of the top venture capital companies in the world.
The new funding will be used to develop new products and content, increase technical capabilities and expand the organization.
Founded by Ayman Sadiq and Abdullah Abyad Raied in 2015, 10 Minute School is on a mission to democratize education for all in Bangladesh. It has built a mobile-first online learning platform and provides affordable, accessible quality educational content to school and college students, university admission test candidates, job seekers, and people looking for specialized skills training.
Started with the motto ‘Never Stop Learning’, 10 Minute School program initially focused only on entrance exam preparation, but now it has expanded. The startup is working to bring quality educational online content nationwide. More than 3 million students are currently using this largest learning app in Bangladesh. Apart from studies, it is also working to improve skills at an affordable price due to having many other courses including Spoken English, PowerPoint, Freelancing, Facebook Marketing.
Speaking about the capital raised, Founder & Director of 10 Minute School, Ayman Sadiq, said:
“Ten Minute School grew 12 times in business in 2021 and the Ten Minute School app became very popular among our users. The investment from Sequoia Capital India will help expand Ten Minute School’s products, technology, skilled workforce and operations. Hopefully, through this investment in the new year, we will be able to further accelerate the development of Ten Minute School and deliver quality education to our students.”
In early 2020, when the normal education program in the country was stopped due to the Corona epidemic, the online education system started gaining popularity again. E-learning institutes are bringing out new courses and books in this effort so that education does not stop even in the lockdown. Nearly 9 million new students joined Ten Minute Schools during this pandemic alone. 17,000 new video lectures are added to their curriculum.
Earlier this year, the Dhaka-based startup was planning to bring live coaching classes for students of class V to XII, test paper solve program for SSC and HSC candidates, complete preparation course for entrance examination and BCS, interactive academic books for class III-XII as well as more than 25 skill development courses.
In the near future, the company is also looking for talented, enthusiastic and hardworking young people to join their product, engineering, content and marketing teams.
In January 2022, 10 Minute School had raised $2 million in seed funding from Sequoia Capital India’s Surge.
