Shohoz, a Bangladeshi ride-sharing and e-ticketing startup managed to raise $15M in a pre-Series B round. The funding was led by Singapore based capital venture firm Golden Gate Ventures. The funding round was also participated by Linear VC, 500 Startups and angel investor Koh Boon Hwee.
Shohoz is one of the earliest tech-startups in Bangladesh. It was the first startup to introduce online ticketing platform for bus, launch, train, ferry, and events that take place around the country. Although Shohoz previously focused on e-tickating, in 2018 Shohoz expanded its service to the ride-sharing industry. Shohoz will spend the raised capital greatly for customer acquisition, retention, and expansion of their services.
There has been a brawl going on among the startups to claim their fair share in the South Asian ride-hailing industry. Earlier this year, Pathao, one of the strongest rival of Shohoz in Bangladesh raised $12M in a round led by Go-Jek. Recently, Pathao has launched its services in Nepal. In response, Shohoz’s move to become the Grab of Bangladesh will bring a lot of changes to the ride-hailing industry in Bangladesh.