Sindabad.com, a Dhaka-based e-commerce company promoted by Zero Gravity Ventures Ltd, has secured $4.15 million in Series A funding from the Aavishkaar Frontier Fund (AFF), a venture fund managed by Aavishkaar.
“Aavishkaar believes Sindabad.com has the potential to rewrite the B2B transaction model for corporates and SMEs in Bangladesh. We look forward to working with the team in fine-tuning strategy and scaling up the business,” said Sanchayan Chakraborty, Partner at Aavishkaar.
Aavishkaar is an active investor in early and growth stage enterprises in India and broader Asia, practicing an entrepreneurship-based approach to development.
Earlier, Frontier Fund – a Bangladesh-focused private equity fund managed by Brummer & Partners Bangladesh – had invested in the company. Frontier has invested in ten different companies in diversified sectors such as retail, automotive, pharmaceuticals, white goods.