A beauty and fashion e-commerce platform in Bangladesh, Shajgoj, has secured BDT 21 crore worth of seed funding from Surge, Sequoia Capital India’s accelerator program. It is the first Bangladeshi personal care e-commerce platform to receive funding from Indian venture capital firm Sequoia Capital India, which invests in consumer, technology, and healthcare businesses.
According to media outlets, as the demand for Beauty, fashion, and Personal care products increases tremendously, Shajgoj will use the funds to expand its customer base, open new stores and offer more international brands to customers.
According to AMR, IN 2020, only the skincare products market size in Bangladesh was valued at USD 1.16 and is expected to garner USD 2.12 billion by 2027. However, according to The Daily Star, the annual market size of personal care and hygiene is USD 3 billion, which will reach USD 7 billion by 2030.
Shajgoj was founded in 2013 and launched in 2018. Currently, this beauty e-commerce platform delivers around 180,000 orders monthly. This start-up has employed more than 200 individuals. Besides Sequoia Capital India, Shajgoj has raised funds from Singapore-based angel, BRAC – Osiris impact venture, and Ahan Investment PTE Limited.
This venture capital firm of India has previously invested USD 2 million in 10 Minute School, one of Bangladesh’s most prominent education tech companies.
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