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

  • Dyson scraps EV project
    October 16, 2019
    British technology company Dyson has pulled out of a project to build electric vehicles (EVs), saying it is unable to make its car “commercially viable”. Chief executive Sir James Dyson said in a statement: “We have been through a serious process to find a buyer for the project which has, unfortunately, been unsuccessful so far.” The company, known primarily for its vacuum cleaners, says it will continue its £2.5 billion investment programme into new technology in two UK locations and in Singapore. It wil
    Read More
  • Beat to bring ride-hailing service to Mexico City
    November 19, 2018
    Beat, a Daimler ride-hailing firm, is opening offices in Mexico City during the first quarter of 2019 and expects to recruit thousands of drivers. Beat says the move is part of a strategy to expand its presence in Latin America. The service and user app are currently available in Lima (Peru), Santiago (Chile), and Bogota (Colombia). Nikos Drandakis, founder and CEO of Beat, says the company initially deployed it service in Mexico City five years ago but did not have the resources at the time to succe
    Read More
  • Car2Go launches e-car rental service in central Paris
    January 17, 2019
    Daimler subsidiary Car2go has made its electric car rental service available to Parisian users in a 77km square area within the city’s Périphérique motorway. Drivers are charged between €0.24 to €0.34 per minute depending on the location and time of the rental, and can charge the vehicles at around 1,100 charging stations in the French capital. The details flesh out Car2go’s announcement last year of plans to deploy 400 electric Smart EQ Fortwo vehicles in the city. The company intends to add more ve
    Read More
  • Early bird registrations open for ITS Europe
    March 20, 2019
    ITS Europe has opened early bird registrations for this year’s congress taking place in Eindhoven from the 3-6 June. Under the theme ‘Fulfilling ITS Promises’, the European Programme Committee is presenting seven topics. These include deploying new mobility services – from experiments to experience; a breath of fresh air; connected, cooperative and automated mobility; enhancing the efficiency of freight transport; enablers of digital infrastructure; transport network operations; and disruption start-ups &
    Read More

Highlighted Content