Arogga, a local medicine delivery startup, has recently raised US$5.5 million seed in a funding round led by The Venture Collective, a US-based venture capital firm, with participation from other international investors. As per an official press release, the startup secured $4 million in new capital, building on the $1.5 million raised in the previous year.
International venture capital firms such as The Blue Collective (US), Iterative (Singapore), Stella Maris Partners (Mexico), Ratios Ventures (UK), Sketchnote Partners (Spain), Epic Angels (Singapore), and prominent European angel investor Alex Rittweger participated in the funding round. Bangladeshi investors IDLC Finance and Startup Bangladesh Limited were also participants in this round.
Founded by Rosina Mazumder (CEO), Fahad Hossain (COO), Shamim Hasan (CTO), and Yawar Mehboob (CFO) in December 2020, Arogga plans to use the new funding to scale up and deepen its operations in Bangladesh.
Regarding the funding, Rosina Mazumder, Co-founder and CEO, said, “We are focused on building our product on the best technology, with the best operations and in-house logistics and brilliant customer care. The priority remains on increasing penetration in Dhaka, and also expanding hubs to two other major cities by Q2 2024.”
As per the press release, Arogga currently serves more than 600,000 users in Bangladesh, offering over 32,000 medicines and healthcare products from over 500 manufacturers. The company is planning on launching a home lab testing service in November.