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01 Nov SEAF BV Invests in High Quality, High Tech Mill
SEAF BV has invested Mowdok Agro Industries Limited, a leading high-end, high gluten flour producer
Dhaka, Bangladesh – SEAF Bangladesh Ventures (“SEAF BV”) has made an equity investment in Mowdok Agro Industries Limited (“Mowdok”). Mowdok,a leading flour producer, will use the funds to automate its flour production in order to provide bulk purchases to its customers, who range from bakeries, confectionaries, restaurants, and more.
Mowdok was started in 2009 by an entrepreneur with a vision to produce high quality flour to cater to bakeries that needed flour with high gluten content. With his personal funds, he purchased equipment, developed a site for construction, and established foundations for civil construction. However, a lack of collateral kept him from being able to take out bank loans.
“Mowdok has proven to be an industry leader, having done extensive industry research by visiting similar sites, mills and bakeries, and by working with equipment suppliers,” said Altaf Uz Zaman, Managing Partner for SEAF BV.
SEAF has already disbursed BDT 9mm (USD 0.12mm), which the entrepreneur has used for completing a factory site and for purchasing newer machinery such as flour mills. In addition, SEAF BV will provide technical assistance for the development of financial systems, accounting systems, and internal controls within Mowdok.
For the full press release, click here.