SBK Tech Ventures' Investment Promises Leave Six Startups in Financial Distress
SBK Tech Ventures Ltd is facing severe backlash after failing to repay Tk 15 crore borrowed from a retired army officer. The firm, which promised significant investments to several startups, has left six companies in financial distress. Sonia Bashir Kabir, the founder of SBK Tech Ventures, is currently in contempt of court for unmet investment promises.
Last year, SBK Tech Ventures announced investing $7.1 million in startups, including Markopolo, Fashol, Jatri, 10 Minute School, Arogga, and Solshare. These startups provided equity based on SBK's promise to mobilise necessary investments. However, the firm has allegedly disappeared, not releasing any money to the startups. The startups have been waiting for funds to be released for the last year.
Tasfia Tasbin, founder of Markopolo, accused Sonia Bashir Kabir of having an agenda to 'kill all startups'. The firm is also accused of not repaying Tk 12 crore taken from 'Fiber at Home Limited'. SBK Tech Ventures is facing cases at home and overseas due to these unmet promises and failures to repay debts.
The failure of SBK Tech Ventures to deliver on its investment promises has left six startups in trouble. The affected companies are now seeking justice, with Sonia Bashir Kabir in contempt of court. The future of these startups hangs in the balance as the situation continues to unfold.
