Babuland, a local indoor play zone chain startup, announced that it has raised BDT 40 million in funds from a group of undisclosed angel investors.
The company says it has welcomed new investors with an aim to provide safe, hygienic, and accessible play space for children in every city of Bangladesh.
Babuland has a unique approach to its work. The company not only provides play space and entertainment but also focuses on the mental, physical and social development of children.
Babuland Co-Founder and Chairman Ishnad Chowdhury said, “Dhaka City only has 294 acres of playground against a requirement of 1876 acres, which is only a mere 16%. Consequently, 77% of children are deprived of sufficient physical exercise, every day. Eventually, this leads to risks of illnesses such as heart disease, diabetes or even mental depression. We are here to help the society to fill this gap and impact physical and mental development of the next generation by providing safe and hygienic indoor playgrounds”.
Babuland currently has four branches in the capital’s Badda, Mirpur, Uttara, and Wari. The company says it currently serves almost 40,000 children per month with its four branches.
The company plans to open two more branches in Dhaka in 2022 and from 2023 Babuland plans to start operations outside of Dhaka. The company says it hopes to serve 50 branches in Bangladesh by 2027 and plans to explor other Southeast Asian countries afterward.
By 2027 the company it aims to serve a minimum of 60 lacs children annually.