Recently Bangladeshi female-focused e-commerce platform Shajgoj has received a tk 21 crore in seed funding from Sequoia Capital India’s rapid scale-up program for startups Surge.
The female-based beauty and personal care e-commerce platform was founded in 2013 and started its journey in 2018. Its popularity has reached to such extent that at present, it delivers about 180,000 orders per month all across the country and ranks third to fourth among Bangladesh’s top five e-commerce companies. The platform has seen specifiable growth, with revenue more than double in the last quarter of the previous year.
Being the first beauty and personal care e-commerce platform to receive Surge funding, Shajgoj is going to extend its footprint online and offline to keep pace with the rising demand of its products. Apart from that, Shajgoj is thinking of boarding the amount of its physical stores to 100 within the next three years.
Nazmul Sheikh, the CEO and co-founder of Shajgoj said, “The demand for beauty and personal care products has experienced a drastic growth over the years. Shajgoj is going to use the funds to gain more customers, unveil more outlets, and offer more international brands on their platform,”
Sequoia Capital India is a venture capital firm in India which basically invests in consumer, technology, and healthcare. In recent past, it has also invested in Bangladesh’s biggest online educational platform 10 Minutes School.