Ten Minute School received an investment of 61 crore rupees
Ten Minute School (10 ms.com), the country’s leading online educational institution, has received a fresh investment of Tk 61 crore. The investment was led by venture capital firm Conjunction Capital, Peak Fifteen’s Surge (formerly Sequoia Capital India) and Startup Bangladesh. This startup confirmed the pre-series funding round.
Ten Minute School authorities confirmed the matter. Yesterday, Wednesday, the organization said, this year’s investment in Ten Minute School, some famous angel investors of the country, Kunal Shah, founder of Indian Unicorn Cred, Sajid Rahman, managing partner of MyAsiaVC and several local angel investors have participated. This is the highest seed-stage investment for a Bangladeshi startup. With this, the total investment amount in Ten Minute School stood at 78 crore rupees.
The institute, which started in 2015, is currently helping the students of class VI-XII in online batch live classes and exams in the preparation of board syllabus based studies and exams regularly. Every year more than 10 thousand students are getting GPA-5 by preparing online batch. Admission is taking place in various universities of the country. Apart from school-college students, Ten Minute School is also helping university admission candidates and job aspirants in their preparation. Along with studies, the institution is also working regularly on skill development of students. Ten Minute School has many skill development based courses including Spoken English, ILTS, Software, Soft Skills, Freelancing.
Ten Minute School App has more than 35 thousand recorded video lectures on Bangladesh Board Syllabus. Besides this there are more than 82 thousand quizzes. Apart from this, Ten Minute School regularly provides educational resources like model tests, e-books and lecture sheets to the students. More than 5.7 million students are using this largest educational app in Bangladesh. Apart from this, more than one crore students are studying online every month from various content on Ten Minute School website and social media.
About the new investment, Ayman Sadiq, Co-Founder and Chief Executive Officer (CEO) of Ten Minute School said, ‘At Ten Minute School, we are always working to make education accessible to all. This investment supports our mission as well as boosts our activities in education and skill development of students in Bangladesh. With this phase of investment, we are now ready to take our vision to new heights to build a Smart Bangladesh by 2041 by supporting the next generation in education and skills.’
According to Ten Minute School authorities, startups around the world have been suffering from economic growth and lack of adequate investment since last year. In the first half of this year, only $500 billion was invested in startups worldwide, compared to $1.8 billion in the same period in 2022. Even in such a situation, Ten Minute School has focused on increasing their business growth by working to improve the quality of their various products and services. This has increased the involvement of students of the country with Ten Minute School. The Ten Minute School app has been downloaded over 5.7 million times. More than 3 crore 2 million students are taking education services free of cost from the app. And the number of services taken in exchange for money is more than six and a half lakh.
Mirza Salman Hussain Baig, Co-Founder and Chief Operating Officer (COO) of Ten Minute School said, ‘It is an exciting experience to invest in the ongoing global economic downturn. It was also a test of our concentration. We thank investors for partnering with us in supporting our journey to make quality education accessible online across the country.’
Regarding the investment in Ten Minute School, Startup Bangladesh Managing Director Sami Ahmed said, ‘We are excited to support Ten Minute School’s journey to reinvent the education system in Bangladesh.’
On the other hand, Kirill Kozhevnikov, Managing Partner of Conjunction Capital, said, ‘We are very pleased to be a part of this important investment phase of Ten Minute School. This is our first venture in Bangladesh market. We believe that our partnership will help bring significant changes in the education system of Bangladesh.
According to the authorities of Ten Minute School, since its inception, Ten Minute School has been working to make quality education accessible to all students across the country as well as bridging the gap between traditional and digital education. 52 percent of Ten Minute School students are from out of town. 34 percent of the students are girls. The organization believes that this investment will help Ten Minute Schools create an educated and skilled population.