Sequoia’s Surge leads $2.1m round of Bangladeshi beauty startup

Bangladesh-based Shajgoj, a beauty and personal care-focused ecommerce platform, has raised over US$2.1 million in a funding round led by Surge, Sequoia Capital India’s accelerator program. SBK Tech Venture, a venture capital firm in Bangladesh, also participated in the round.

(From left) Shajgoj co-founders Nazmul Sheikh, Sinthia Islam, and Milky Mahmud / Photo credit: Shajgoj

Shajgoj aims to tap into Bangladesh’s booming beauty, health, personal, and household care market, which is estimated to reach an annual growth rate of 19.23% from 2022 to 2025.

The startup provides more than 10,000 products from more than 400 brands on its platform and also features informative videos and articles about the latest trends in beauty and personal care. It has more than 400,000 customers, 70% of which are returning users.

Shajgoj, which was founded in 2013 by Nazmul Sheik, Sinthia Islam, and Milky Mahmud, was among the 20 early-stage startups selected for Surge’s sixth cohort.

“We’ll be concentrating on growing our customer base, opening more outlets across the country, and expanding our portfolio of international brands that our customers can trust,” Sheik, who is the company’s co-founder and CEO, said in a statement.

See also: This SPH veteran spun off his jobs platform to catch a big wave