Shohoz receives $15m fund to expand ride-sharing in Bangladesh

Ride-sharing company Shohoz will use a $15m investment from venture capital firm Golden Gates Ventures to expand its on-demand service in Bangladesh. A report by the Dhaka Tribune says the company is now launching its ‘super-app’ strategy which will add food deliveries to its current offering. Maliha M Quadir, Shohoz founder and managing director, says: “To help Shohoz finance this growth, we have brought on board a great line-up of experienced international and regional investors, who I think will help
September 28, 2018 Read time: 1 min

Ride-sharing company Shohoz will use a $15m investment from venture capital firm Golden Gates Ventures to expand its on-demand service in Bangladesh.

A report by the %$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external Dhaka Tribune Dhaka Tribune website link false https://www.dhakatribune.com/business/stock/2018/09/26/golden-gate-ventures-invests-15m-in-shohoz false false%> says the company is now launching its ‘super-app’ strategy which will add food deliveries to its current offering.

Maliha M Quadir, Shohoz founder and managing director, says: “To help Shohoz finance this growth, we have brought on board a great line-up of experienced international and regional investors, who I think will help us achieve our feat very soon.”

The company will also be able to work on introducing the ride-sharing service beyond the border if it can meet demands in Bangladesh, Quadir adds.

Urban Traffic Control

Related Content

  • Sompo to launch system to assist virtual testing of AVs
    February 19, 2019
    Sompo Japan Nipponkoa Insurance is to develop a system which will allow local governments to carry out virtual tests of autonomous vehicles (AV). A report by The Japan News says the insurance company is hoping to reduce costs associated with real-world testing by providing a virtual environment which will feature road conditions based on 3D maps. This project stems from an agreement with Tier IV, a developer of autonomous driving technologies and measuring technology firm Aisan Technology. The system
    Read More
  • mPowa boss Dan Wagner tells CARTES 2013 that global innovation is transforming the retail sector
    November 20, 2013
    Industry analyst Gartner predicts that the mobile payment sector is poised to become a half-trillion-dollar global market in the next 18 months and mPowa chief executive Dan Wagner is positioning his company to capitalise on what he describes as “exponential growth.”
    Read More
  • ITS America announces call for participation for 23rd annual meeting & exposition in Nashville
    September 20, 2012
    The Intelligent Transportation Society of America (ITS America) has issued its call for papers and presentations for consideration for its 23rd Annual Meeting & Exposition, to be held at the Gaylord Opryland Resort and Convention Center in Nashville, Tennessee from April 22-24, 2013. ITS America is looking for high quality contributions to the technical program; content selected will further the discussion about state-of-the-art transportation technologies or offer a fresh outlook on the policy, financial,
    Read More
  • RAC Foundation: UK drivers receive 12 million penalties annually
    October 25, 2017
    Up to 12 million driving license holders receive a penalty notice each year – the equivalent of one every 2.5 seconds; meaning as many as a third (30%) of Britain's 40 million drivers now receive a penalty notice annually. The findings come from the Automated Road Traffic Enforcement: Regulation, Governance and Use - for the RAC Foundation by Dr Adam Snow, a lecturer in criminology at Liverpool Hope University. The penalty notices include the Fixed Penalty Notice (a criminal penalty issued
    Read More

Highlighted Content