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Startup Bangladesh, the flagship venture capital firm of Bangladesh’s ICT Division, has announced its investment in AmarLab, a healthcare startup dedicated to improving healthcare services in the country through innovative technology solutions. The organizations signed an agreement to invest 1 crore BDT in AmarLab’s Pre-Seed round in Dhaka recently.

The agreement was signed in the presence of Md. Shamsul Arefin, Chairman, Board of Directors, Startup Bangladesh Limited and Secretary, ICT Division. Startup Bangladesh Managing Director Sami Ahmed, Head of Portfolio Investment Hasan A. Arif, AmarLab Co-founders Tazin Shadid and Dr. Ishtique Zahid, and other stakeholders were present at the event.

Source: https://futurestartup.com/

We bid farewell to a true icon and trailblazer in the world of entrepreneurship and technology. Mr. Zeaul Alam PAA, the Founding Chairman of Startup Bangladesh and Sr. Secretary of the ICT Division, has announced his retirement after years of dedicated service and leadership.

Under his guidance, Startup Bangladesh has become a leading platform for fostering innovation and supporting the growth of emerging startups in the country. As he embarks on a new chapter in his life, we wish him the very best in his future endeavors and express our sincere appreciation for his contributions to the tech industry and society.

Thank you, Sir. Your legacy will continue to inspire future generations of entrepreneurs and ICT Professionals.

Startup Bangladesh Limited, the flagship venture capital company of the ICT Division invested in Pickaboo, an omni channel platform in Bangladesh specialized in mobile, gadget and electronics. This platform enables customers to shop online or offline and empowers traditional retailers to set up multi branded smart gadget shops under Pickaboo.

An agreement was signed recently between the organizations in Dhaka to invest BDT 3 crore in Pickaboos’ Pre series A round of $1.5 million where local and international investors are participating.

The agreement was signed in the presence of Mr. N M Zeaul Alam PAA, Chairman of the Board of Directors of Startup Bangladesh & Senior secretary of ICT division. Mr. Ranajit Kumar, Executive Director, Bangladesh Computer Council and Board Member of Startup Bangladesh, Managing Director of Startup Bangladesh Mr. Sami Ahmed, Head of Portfolio Investment Mr. Hasan A. Arif and Co-founder and CEO of Pickaboo Mr. Morin Talukder and Co-Founder and Chairman, Md. Aminur Rashid and other stakeholders were present on the occasion.

Since 2016, Pickaboo has been working on building a mobile and gadget hub in the county focusing on mobile, gadgets and electronics with the promise of offering best service to the customers by ensuring fastest delivery and quality products. Pickaboo is considered to be the most trusted platform in the country. Pickaboo delivers products across the country and also offers 3 hours express delivery in Dhaka city. Pickaboo has over 1 million mobile app installs and has delivered few hundred thousand products till date. Besides, Pickaboo is operating in 18 offline stores across the country and building the smartest smartphone and gadget hub in offline. Pickaboo works closely with all major mobile and electronics brands in the country starting from Samsung, Realme, OPPO, Xiaomi, Vivo, OnePlus and 200+ more

Startup Bangladesh is the flagship venture capital company of ICT Division. Under the visionary guidance of Honorable Prime Minister Sheikh Hasina, Startup Bangladesh – the first and only venture capital fund sponsored by the government of the people’s republic of Bangladesh started its journey on March 2020 with an allocated capital of BDT 500 crore. In this effort to enable the nation to innovate faster, Startup Bangladesh has decided to invest 3 crore BDT in Pickaboo after recognizing the potential of this omni channel platform.

Startups are playing a crucial role in addressing the market needs, which is having a deep impact in the socioeconomic development of the country. The tech-solutions provided by startups could support the nation’s achieving Smart Bangladesh Vision. Government has established Startup Bangladesh Venture Capital company to support these innovative Startups. I hope Pickaboo will make a remarkable impact in the industry with this investment,” said Honorable State Minister Zunaid Ahmed Palak, MP, ICT Division on the occasion.
“Pickaboo is a very well-known brand in the e-commerce industry and doing very well. We hope the investment from Startup Bangladesh on Pickaboo will help it to reach out to more customers. I hope as a Startup they will play an active role in implementation of Smart Bangladesh. The ICT Division is working diligently in changing policies that assist the emerging and growing startups in many aspects.” mentioned NM Zeaul Alam PAA, Senior Secretary, ICT Division and Chairman of the Board of Directors of Startup Bangladesh.
“Startup Bangladesh is working diligently to support homegrown startups to grow and to build a vibrant ecosystem to attract more foreign Investment. We believe that Pickaboo is doing well in addressing the needs of customers in the Bangladesh Market. With the right strategy and focus, Pickaboo should be able to make remarkable impact in the lives of the people of Bangladesh.”, said Sami Ahmed, Managing Director, Startup Bangladesh Limited.

Morin Hossain Talukder, Co-founder and CEO of Pickaboo said, ” We are working continuously to make Pickaboo better for our users by providing faster delivery and authentic products. The Investment from Startup Bangladesh Limited will empower us to expand business in both online and offline. We will be focusing on new product inclusion, offering faster delivery across the country and automation to ensure a smoother shopping experience”.

Startup Bangladesh in its effort to build a vibrant startup ecosystem that nurtures digitalization, has been investing in most promising and impactful startups in Bangladesh and has continued that tradition by investing in Pickaboo.

Startup Bangladesh Limited, the flagship venture capital company of the ICT Division, has invested in Bimafy, the Digital Insurance platform in Bangladesh, which enables customers to avail of insurance services through an online platform in Bangladesh.

An agreement was signed on Wednesday between the organisations in Dhaka for investing Tk1 crore. NM Zeaul Alam, chairman of the Board of Directors of Startup Bangladesh and senior secretary of the ICT division, was present on the occasion.

Since 2019, Bimafy has been working on the digitalisation of insurance service facilities to ensure global standard customer service in the insurance sector. Customers can choose and buy health insurance, accident insurance, travel insurance and motor insurance from insurance companies of their choice on the Bimafy app and website. Bimafy also works closely with multiple companies to provide a variety of corporate solutions. In addition to providing digital insurance services to more than 400,000 customers, Bimafy has set an exemplary standard in settling health insurance claims with innovative micro-insurance products.

Startup Bangladesh is the flagship venture capital company of the ICT Division. Under the visionary guidance of Prime Minister Sheikh Hasina, Startup Bangladesh – the first and only venture capital company funded by the government of the people’s republic of Bangladesh – started its journey on March 2020 with an allocated capital of Tk500 crore. In this effort to enable the nation to innovate faster, Startup Bangladesh has decided to invest Tk1 crore in Bimafy after recognising the potential of this digital insurance service platform pioneer.

Startups could play a crucial role in addressing the market needs, which will serve as the foundation for far-reaching consequences in the GDP’s overall growth. The tech solutions provided by startups could support the nation’s achieving Smart Bangladesh Vision. To support these innovative Startups, the government has established Startup Bangladesh venture Capital company, said State Minister for the ICT Division Zunaid Ahmed Palak on the occasion.

“I hope Bimafy will make a remarkable impact in the industry with this investment,” he added.

NM Zeaul Alam said the work that Bimafy is doing in the insurance industry is highly commendable and the investment from Startup Bangladesh in Bimafy will help it to reach out to more customers. He hopes that they will be able to make a deep impact in Smart Bangladesh implementation as a Startup. The ICT Division is working diligently in changing policies that assist emerging and growing startups in many aspects.

Sami Ahmed, managing director of Startup Bangladesh Limited, said, “Startup Bangladesh aims to support home-grown startups to grow and reach heights that generate higher standards for more foreign investment. We believe that Bimafy provides a solution that the Bangladesh market greatly needs. With the right strategy and focus, Bimafy should be able to make a remarkable impact in the lives of the people of Bangladesh.”

 Alvi Nizam Nafi, managing director of Bimafy, said, “We are very happy to receive investment from Startup Bangladesh Limited, this investment will help us expand our digital insurance solutions across the country and reach out to more people in the process.”

Startup Bangladesh in its effort to build a vibrant startup ecosystem that nurtures digitalisation has been investing in the most promising and impactful startups in Bangladesh and has continued that tradition by investing in Bimafy.

Source: https://www.tbsnews.net/

Startup Bangladesh Limited, the flagship venture capital company of the ICT Division, decided to invest in Dhaka-based re-commerce platform SWAP, per a press release sent to FS.

The release says, Swap works by offering customers both convenience and safety when selling a product along with ensuring an environment-friendly way to discard e-waste. The platform enables many low-income households to purchase, sell and exchange products – increasing economic participation and access-to-technology in an emerging market such as Bangladesh.

An agreement was signed recently between the organizations in Dhaka to invest 5 crore BDT in Pre-Series A round.

The agreement was signed in the presence of Khandker Anwarul Islam, Cabinet Secretary, Cabinet Division. Startup Bangladesh Chairman & Senior secretary of ICT division Mr. N M Zeaul Alam PAA, Managing Director Sami Ahmed, Head of Portfolio Investment Hasan A. Arif and Parvez Hossain, CEO and Tonmoy Shaha, COO of SWAP and other stakeholders were present on the occasion.

Since starting in 2020, SWAP says it has generated more than USD $43M in Gross Merchandise Value (GMV), with a current monthly GMV of over USD $2.5M. SWAP says it has served over 80,000 customers till date and has also helped to reduce 3650 Metric ton of carbon emission and saved more than 386 metric ton of e-waste as part of the commitment to reduce carbon footprint and contribute to an environmentally sustainable ecommerce industry in emerging markets.

Startup Bangladesh Limited is the flagship venture capital fund of ICT Division. Under the visionary guidance of Honorable Prime Minister Sheikh Hasina, Startup Bangladesh – the first and only venture capital fund sponsored by the government of the people’s republic of Bangladesh started its journey on March 2020 with an allocated capital of BDT 500 crore. In this effort to enable the nation to innovate faster, Startup Bangladesh has decided to invest 5 crore BDT in SWAP after recognizing the potential of this re-commerce pioneer.

On the occasion Mr. Zunaid Ahmed Palak, State Minister for ICT Division said, “Bangladesh has become a fertile land for startups and innovation, which is transforming the startup ecosystem. The Government is a strong believer of innovation and technology, and we believe Startups are the change-makers and Impact creators in society. To support these innovative Startups, Government has established Startup Bangladesh venture Capital company. Startup Bangladesh’s role in supporting startup ecosystem through investments in technology startups is vital towards building Smart Bangladesh. I hope Swap will make remarkable impact in the industry with this investment.”

“The work that SWAP is doing in the re-commerce industry is highly commendable and the investment from Startup Bangladesh Ltd on SWAP will help it to be the leader of the industry. I hope that they will be able to make a deep impact in Smart Bangladesh implementation as a Startup. The ICT Division is working diligently in changing policies that assist the emerging and growing startups in many aspects, whether it is policy level, training, development etc.” mentioned NM Zeaul Alam PAA, Senior Secretary, ICT Division and Chairman Startup Bangladesh Ltd.

“Startup Bangladesh aims to support homegrown startups to grow and reach heights that generate higher standards for more Foreign Investment. The local startup ecosystem is greatly influenced by prospective ventures like SWAP, With the right strategy and focus, SWAP will be able to make remarkable example as successful and sustainable startup in the ecosystem”, said Sami Ahmed, Managing Director, Startup Bangladesh Limited.

“We believe that SWAP provides a solution that the Bangladesh market greatly needs. By building an ecosystem for pre-owned goods, we are providing our country’s low and middle income households access to technology at an affordable price while encouraging the circular economy mandate. By reusing and increasing the lifespan of electronics devices & light vehicles, we can also ease the pressure on import of such goods, easing the stress on our dollar reserve.” said SWAP CEO and Co-founder, Parvez Hossain.

Source: https://futurestartup.com/