Dhaka, July 13 -- Startup funding in Bangladesh have marked a significant jump during the first six months of the current year, mainly on the back of merger and acquisition (M&A) deal between a local company and a global one.

Funding in such businesses reached nearly $119.9 million during the period which is almost 12 times higher than $9.9 million recorded in the first half of last year, according to data compiled by a local think tank LightCastle Partners (LCP).

The sharp increase was primarily attributed to a $110 million strategic M&A deal between Bangladesh-based B2B commerce platform ShopUp and Sary, a similar platform headquartered in Dammam, Saudi Arabia, which led to the formation of SILQ Group.

The strategic merger between Sh...