Shomvob, a job-tech and HR tech platform in Bangladesh on Thursday announced a $ 1 million pre-seed financing round led by Singapore-based early-stage venture capital firm Cocoon Capital.
Shomvob also received a grant from the Bill and Melinda Gates Foundation to create access to job opportunities for the low-income women population in the country. The company was founded in 2022 and is dedicated to supporting the blue and silver-collar workforce.
Rifad Hossain, founder and CEO of Shomvob, said, “We are immensely grateful for the support from Cocoon Capital and the Bill & Melinda Gates Foundation. Their backing is crucial as we strive to transform the employment landscape in Bangladesh into one that is fairer and more efficient. We are also proud to be aligned with the United Nations Sustainable Development Goals, particularly those aimed at eradicating poverty and promoting decent work and economic growth”.
"We are thrilled to make our first investment in Bangladesh with Shomvob, a company whose mission and exceptional team have deeply impressed us. Shomvob is not just addressing critical employment challenges; it is championing equitable job opportunities and inclusive growth. We believe this partnership marks a significant step towards creating lasting social impact in the region. We are excited to support their dedicated team as they continue to innovate and expand their transformative solutions”, added Zong Xi Sia, Investment Director at Cocoon Capital. Sia recently joined the Shomvob board of directors.
