IDLC Venture Capital has invested US$182K (BDT 2 Cr) in Barikoi as part of its Seed funding round. This marks the sixth investment by IDLC Venture Capital Fund I, which focuses on supporting startups that address fundamental challenges in Bangladesh’s transition to a digital economy.

Barikoi, founded in 2018 by Tayef Sarker and Sadman Sakib, specializes in geospatial mapping solutions that enhance the logistics and operational efficiency of businesses. The company is operating in four major cities of Bangladesh, across various sectors such as FMCG, delivery and logistics service providers, government, and retailers. Barikoi is committed to improving location data services in Bangladesh through products and solutions tailored to the local market needs.

Co-founder and CEO Tayef expresses optimism about the raise, stating, "We're thrilled to secure local institutional investment in Bangladesh despite the funding winter, highlighting our business strength. With these funds, we plan to accelerate our GTM and expand our services to more businesses in Bangladesh."

"Our investment in Barikoi perfectly fits the IDLC VC fund I thesis to invest in scalable businesses with passionate founders solving fundamental problems for Bangladesh. We believe Tayef, Sadman, and the Barikoi team will successfully steer the company in the right direction to optimize the operations of businesses and government agencies of Bangladesh through accurate and precise geospatial data," added Javed Noor, Partner at the IDLC Venture Capital.

With the recent investment from IDLC Venture Capital, Barikoi also plans to expand its services internationally, aiming to offer SaaS solutions that extend beyond the borders of Bangladesh. This funding will support Barikoi's efforts to refine and scale its mapping services, facilitating its goal to operate globally and enhance its impact within the industries it serves.