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Marking 5 Years of Startup Dhaka Part 1

Elvis Gomes December 13, 2018

It has been 5 years since the release of the first ever documentary on Bangladesh’s startup scene, Startup Dhaka Part I. The stories of the local entrepreneurs were shared with rest of the world through a wonderful storytelling by Mustafizur R Khan, Samad Miraly and Fayaz Taher. Since then, startups have hit the mainstream, getting special attention in the country. A

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Funding in India's deep technology breaks record

Investment in deep tech of India has risen to its

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ADB expects Asia to grow 6% this year

Manila based institution, Asian Development Bank released an update of

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Local Tech Industry Set to Grow Exponentially

Bangladesh is well on its way to becoming a global gadget-making

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Bangladesh - The 3rd highest remittance receiving country in South Asia

Bangladesh becomes the 3rd highest remittance receiving country in South

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Edtech startup PlanetSpark backed by FIITJEE

Education firm FIITJEE provides funds of Rs 1.6 crore ($220k)

News

photo_2018-12-12_18-14-00

Marking 5 Years of Startup Dhaka Part 1

Elvis Gomes Feature December 13, 2018

It has been 5 years since the release of the first ever documentary on Bangladesh’s startup scene, Startup Dhaka Part I. The stories of the local entrepreneurs were shared with rest of the world through a wonderful storytelling by Mustafizur R Khan, Samad Miraly and Fayaz Taher. Since then, startups have hit the mainstream, getting special attention in the country. A

Read More
deep-learning-architecture-696x435

Funding in India’s deep technology breaks record

Elvis Gomes Feature December 13, 2018

Investment in deep tech of India has risen to its all time best $247.8 million so far this year where in 2017 it was only $96.8 million. The investment amount went up by 2.5 times specially in artificial intelligence (AI), machine learning and robotics based startups. Grey Orange, valued at $500 million, raised the highest amount of funding which is

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Business-growth-2015-640x390

ADB expects Asia to grow 6% this year

Elvis Gomes Feature December 13, 2018

Manila based institution, Asian Development Bank released an update of Asian Development Outlook on Wednesday which clearly stated that Asia will grow 6% this year and 5.8% next year. According to the report, China is expected to grow 6.6% and 6.3% in 2018,2019 where India is expected to grow 7.3% and 7.6% in the same period. The reasons for growth

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Local Tech Industry Set to Grow Exponentially

SD Asia Desk Feature December 13, 2018

Bangladesh is well on its way to becoming a global gadget-making hub thanks to a competent workforce that is available at a competitive wage coupled with a rapidly-increasing demand within the domestic market. With a population of 160 million and a GDP growth four times that of the United States it is about time that the international public stands up and takes note of

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Bangladesh – The 3rd highest remittance receiving country in South Asia

Elvis Gomes Feature December 12, 2018

Bangladesh becomes the 3rd highest remittance receiving country in South Asia, 9th in the world. It has seen a 17.9% growth in remittance earning in 2018 where the rate saw declination of 11.5% in 2016. The leader in remittance earning is India ($79.5 million), followed by China ($67 million) and Mexico & Philippines ($34 million). World Bank reports that the

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Edtech startup PlanetSpark backed by FIITJEE

Elvis Gomes Feature December 12, 2018

Education firm FIITJEE provides funds of Rs 1.6 crore ($220k) to Gurgaon based edtech startup PlanetSpark. The funds will be used to increase the number of home based tuition centres upto 750 and scale up to 5 more cities. PlanetSpark partners with qualified homemakers and opens tech-enabled tuition centres from their homes. It follows a blended learning approach of a

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MYNEWCAR raises $1 million bridge round

Elvis Gomes Feature December 12, 2018

Car marketplace startup MYNEWCAR raised a $1 million bridge funding round from a set of high profile angel investors. The startup plans to use this fund to strengthen its metros and expand its test drive platform Trivz to other cities. Founded in 2015, MYNEWCAR currently has presence in Mumbai, Bengaluru, Pune and Delhi.

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Base raises US $1.3 million

Elvis Gomes Feature December 12, 2018

Vietnamese startup Base has raised US $1.3 million pre-series A rounnd co-led by the Alpha JWC ventures and Beenext. It is said to be the biggest ever fund raised by a B2B startup in the country. Existing investors 500 Startups and VIISA also participated in the funding round. The company has developed over 20 apps that cover two verticals: human resources

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Tiger Cage Launch Event held

Elvis Gomes Feature December 11, 2018

Tiger Cage, an entrepreneurship-themed video series from Startup Dhaka, was launched on 10th December at EMK Center, Dhanmondi. Tiger Cage is the first ever video series in Bangladesh giving startups the opportunity to pitch in front of investors who are willing to provide funding access to startups. The show aims at mitigating one of the Bangladesh startup ecosystem’s key problems

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Snapcart in pursuit of raising $15 – $20 million

Elvis Gomes Feature December 11, 2018

Jakarta-based real-time shopper engagement app Snapcart is closing its Series B round of financing in the next few weeks, co- founder and COO Teresa Condicion told.

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Bangladesh – The most Optimistic Market

Elvis Gomes Feature December 9, 2018

Bangladesh remains the most optimistic market according to the HSBC Navigator Survey on 34 countries. The countries included were the US, the UK, Canada, Brazil, Mexico, France, Germany, Italy, Spain, Russia, Switzerland, Turkey, Australia, China, Malaysia, Singapore and Vietnam. The survey, conducted by Kantar TNS, takes into account the responses of over 8650 businesses from small to mid to large

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E-wallet

E-Wallet In Bangladesh – Is It Feasible?

SD Asia Desk Feature December 9, 2018

Bangladesh initiated to digitalize the country by 2021 for which various aspects of ICT are being introduced and developed since a decade and mobile financial services began were introduced in March of 2010. 20 banks were approved by the Bangladesh Bank to provide mobile banking service of which 18 are currently providing services such as e-wallet or electronic wallet. What

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Grab and Idooh partner up to bring in-car ads

Elvis Gomes Feature December 4, 2018

Idooh has partnered with GrabAds, Grab’s online-to-offline advertising platform, to deploy in-vehicle media screens in GrabCars in the Philippines. Fully interactive 10-inch Idooh display tablets will be installed into selected GrabCar vehicles, providing passengers with updates on lifestyle, news, and entertainment as well as e-commerce options while in transit.  Grab drivers can look forward to an additional revenue source of

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Pakistan based Venture Capital Sarmayacar may invest in Bykea

Elvis Gomes Feature December 4, 2018

Pakistan-focused venture capital firm Sarmayacar is investing in local ride-hailing startup Bykea, according to three sources close to the development. The Series A fundraising is expected to be in the region of $5 million and will be a combined investment involving at least three investors.

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ADB approved loan of $50 million for Microenterprise Development

Elvis Gomes Feature December 4, 2018

The ADB has approved $50 million to Palli Karma Sahayak Foundation (PKSF),  a development finance organization. The loan will be disbursed through a credit line to PKSF which will be disbursed to partner organizations and 40,000 microenterprises of whose 70% will be female. The total cost of the project, which is due for completion at the end of 2020, is

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The opportunities and challenges of f-commerce for female entrepreneurs of Bangladesh

SD Asia Desk Feature December 4, 2018

Facebook, is not only social media, but has become a platform for Bangladeshi female entrepreneurs to conduct business with over 2 crore users in Bangladesh. However, there are opportunities and challenges of this relatively new dimension of conducting business, not as usual. F-commerce stands for Facebook commerce which refers to overseeing online business activities through a Facebook page or Facebook

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Mobile Data usage increases 46%

Elvis Gomes Feature December 2, 2018

Since the introduction of 4G, the usage of internet boosted. Last year’s average usage was about 700MB. However, Robi, with 2.83 crore active mobile internet users and 55 lakh regular users, saw 88% increase in data usage in just one year. Grameenphone, with 3.63 crore active internet users and 50 lakh 4G users, saw 52.4% increase in a year. Banglalink

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Microsoft’s market value crosses Apple’s

Elvis Gomes Feature December 2, 2018

For the 1st time in 8 years,Microsoft’s stock market value closed ahead of Apple Inc’s. Microsoft shares rose 0.6 % at $110.89 making its market capitalization $851.2 billion where Apple’s share value dropped 0.5% to $178.58 which brings its market value to $847.4 billion. Reasons for Microsoft’s rise was assumed to be growth in cloud computing and Apple’s decline could

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Golden Gate Ventures to invest $18 million in Malaysian startups

Elvis Gomes Feature December 2, 2018

Southeast Asia-based VC Golden Gate Ventures has announced it will allocate US$18 million, or RM 75 million, of its third fund for Malaysia-based startups and open an office in the country. Golden Gate Ventures has already invested in Malaysian Startups such as GoQuo, ServisHero, Codapay and Funding Societies.

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Invest2innovate launches $15 million fund

Elvis Gomes Feature December 2, 2018

Pakistani Accelerator invest2innovate launches a fund of $15 million named i2i Ventures which is the 1st of its kind. Sarmayacar, a Pakistani venture capital firm, also launched $30 million fund with an aim to investing in local startups. These initiatives are boosting the confidence and interest among the investors as well as, entrepreneurs.

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Meet the 5 winners of Urban Innovation Challenge 2018

Elvis Gomes Feature December 2, 2018

On Monday, 27th November, 2018 Brac announced its winners for Urban Innovation Challenge 2018 at Brac Centre. Starting from June of this year, UIC 2018 started its campaign with the theme “Our cities, our problems”. It aims to support early stage social enterprises who are actively working for solving dire problems of our society. In 4 different categories, 5 winners

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Creating Capital For Your Big Business Idea

SD Asia Desk Feature November 28, 2018

Bangladesh is a hotbed for business creation and growth, a fact that has led the UK’s influential Institute of Export to name it as ‘the new Asian Tiger’. The efforts of country businesspeople has driven 7.11% growth in GDP year on year. With so much international interest, there has seldom been a better time to get started in business. For those with a

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Cancer

Singapore startup, Ark, gets funding to ‘eliminate late-stage cancer’

Navojit Dastidar Feature November 27, 2018

After eight years in development, a Singapore startup is preparing to launch its cancer-testing kits. The team’s vision, says co-CEO Dr. Zhou Lihan, is “a world without late-stage cancer.” “Late diagnosis is really why the prognosis of cancer patients are so poor today,” explains Zhou. He adds that for many cancers, “if they are discovered at the early stage, the

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Eko

Bangkok based Eko Communications raises $20M for expansion to Europe

Navojit Dastidar Feature November 27, 2018

After focusing on Asian markets, particularly in Southeast Asia, Bangkok-based Eko Communications is getting ready to take on Slack, Microsoft Teams, and other enterprise messaging apps in Europe. The startup announced today that it has raised a Series B of $20 million and opened offices in London (which will serve as its new commercial headquarters), Amsterdam, and Berlin. The funding, led by

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Women entrepreneurs to get app development training from Apple

Navojit Dastidar Feature November 27, 2018

Apple today announced the launch of the all-new Entrepreneur Camp, a first-of-its-kind initiative designed to create new opportunities for app-driven businesses owned or led by women through an intensive technology lab, specialized support and ongoing mentoring. To be eligible for the program, applying app-driven businesses must be female-founded, co-founded or led and have at least one woman on the development team

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Sheba

Sheba.xyz signs healthcare deal with Telenor Health for its service providers

Navojit Dastidar Feature November 27, 2018

Telenor Health has signed an agreement with Sheba.xyz, an online based marketplace devoted to providing the best quality service, said a statement sent to FS. Under this agreement, service providers of Sheba.xyz, will now be enjoying the digital health care benefits of Tonic that includes up to BDT 200,000 yearly coverage for the hospital stay, monthly free minutes for 24/7 doctor consultation,

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Vedantu

Online tutoring platform Vedantu raises $11m led by Omidyar Network

Navojit Dastidar Feature November 26, 2018

Vedantu, an online tutoring platform, has raised $11 million in a Series B funding round led by Omidyar Network, the company’s co-founder, Vamsi Krishna, said in an interview. The funds will be used for technology expansion and deeper penetration in tier 2 and 3 cities. Accel Partners, an existing investor, also participated in the round. Vedantu, which means ‘knowledge network,’

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Grab

Grab, NUS trial e-scooter sharing service, GrabWheels

Navojit Dastidar Feature November 26, 2018

A three-month trial has begun for Grab’s e-scooter sharing service GrabWheels at the National University of Singapore’s (NUS) Kent Ridge campus. E-scooters have been deployed across eight parking stations on campus in the pilot, which sees the new GrabWheels service being tested for the first time in Singapore, Grab said in a joint news release with NUS on Friday (Nov 23).

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A Lord and Taylor sign is pictured during Black Friday shopping in New York City, New York, U.S., November 23, 2018. REUTERS/Carlo Allegri

Black Friday: Online shopping trumps malls for US shoppers

Navojit Dastidar Feature November 26, 2018

The Thanksgiving Day and Black Friday kickoff of the U.S. holiday shopping season showed the increasing preference for online purchases, as more Americans opted to stay home and use their smartphones while sales and traffic at brick-and-mortar stores declined. The ongoing shift to online shopping has forced retailers across the country to invest heavily in boosting their e-commerce businesses, and

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Mizuho commits $20M for tech fund in China

Navojit Dastidar Feature November 25, 2018

Mizuho Securities, a subsidiary of Japan’s second-largest lender Mizuho Financial Group, will establish a technology investment fund in China in partnership with two local venture capital firms, according to a report by the Nikkei. Mizuho Securities is said to have made an initial $20-million commitment to the fund, which will be managed by Cybernaut Investment Group and New Frontier Capital Management (Hong

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Tata capital

Tata Capital to set up $200M second healthcare fund

Navojit Dastidar Feature November 25, 2018

Tata Capital, the flagship financial services arm of the diversified Tata Group, has kicked off the process to raise as much as $200 million (Rs 1,400 crore) for its second healthcare fund, VCCircle reported. The new fund would be almost three times bigger than the previous fund, Tata Capital Healthcare Fund I, which received capital commitments of Rs 319 crore (about

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Chinese text analysis startup Elen raises $22M series A from Matrix Partners China

Navojit Dastidar Feature November 25, 2018

Matrix Partners China, an affiliate of US-based Matrix Partners, has led a $22-million Series A round into Elens, China’s developer of AI-powered text analysis, according to an announcement by Matrix Partners China. Established in 2016, Elens deploys voice image recognition and natural language processing to improve efficiency of enterprises. Elens is led by experts in the field of big data management,

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BB governor

Former Bangladesh Bank governor proposes fund for innovation, research

Navojit Dastidar Feature November 25, 2018

Former governor of Bangladesh Bank Dr. Atiur Rahman has proposed creation of a national innovation and research fund to encourage more young people to become entrepreneurs He made the proposal while addressing a seminar organised for youths by World Linkup at the Senate Building of Rajshahai University on Saturday, says a statement. Describing the youths as the main resources for

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Wework

New age WeWork Labs will not take equity in exchange for mentorship

Navojit Dastidar Feature November 25, 2018

With the goal of helping early-stage entrepreneurs move into the next stage of their startup journey, WeWork officially launched its ‘Labs’ programme in Singapore today, marking its first foray into Southeast Asia. The programme — which cannot be compared to an accelerator or incubator — is a for-pay programme that does not take any equity and works like a bespoke

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Electric train service comes to Narayanganj

Navojit Dastidar Feature November 22, 2018

The government has taken up a project to introduce electric train service in Narayanganj under a public-private partnership with Singapore.The cabinet committee on economic affairs with Finance Minister AMA Muhith in the chair yesterday approved the local government division’s proposal to reduce the district’s traffic congestion. Nasima Begum, additional secretary to the cabinet division, told reporters afterwards that 388 cities

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Instarem

Singapore’s fintech startup Instarem raises $20M from MDI Ventures

Navojit Dastidar Feature November 22, 2018

Instarem, a Singapore-based startup that helps banks transfer money overseas cheaply, has raised a Series C round of over $20 million for global expansion. The round is led by MDI Ventures  — the VC arm of Indonesian telecom operator Telkom — and Beacon — the fund belonging to Thai bank Kasikorn — as well as existing investors Vertex Ventures, GSR Ventures

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MidEast travel startup Holidayme snags $16m Series C via merger with KL-based Tripfez

Navojit Dastidar Feature November 22, 2018

Middle East-based online travel agency Holidayme on Wednesday announced that it is merging with Malaysia-based travel startup Tripfez to form one of the world’s largest Muslim-focused online travel agencies. The newly merged entity has also raised $16 million in a Series C funding round led by China and Kuala Lumpur-based venture capital firm Gobi Partners. Other investors in the round

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LocaLokal

Malaysian travel platform LokaLocal raises fund from S Korea’s BonAngels

Navojit Dastidar Feature November 22, 2018

South Korean venture capital firm BonAngels Venture Partners has led an undisclosed investment in Malaysia-based travel startup LokaLocal. With this investment, LokaLocal becomes BonAngels’ first Malaysian portfolio company. The venture capital firm has previously invested in around 140 companies in Korea, Japan, the US and Southeast Asia. LokaLocal said it will use the proceeds to accelerate its growth through its integrated

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SBI

SBI venture arm to roll out funds targeting SMEs and affordable housing

Navojit Dastidar Feature November 20, 2018

SBI Capital Ventures Ltd (SVL), an alternative asset management arm of State Bank of India group, will float two funds – Small and Medium Enterprises (Rs 4 billion) and Affordable Housing Fund (Rs 3.5 billion). This is part of plans to expand the portfolio of funds under SBI Caps Ventures, a subsidiary of SBI Capital Markets Ltd. Both funds are targeting closure of fund in

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morgan stanley

China’s Golden Education raises Series C from Morgan Stanley, Hillhouse Capital

Navojit Dastidar Feature November 20, 2018

Hillhouse Capital and Morgan Stanley have reportedly led a RMB800-million ($115 million) Series C funding round in Chinese professional training firm Golden Education. Yonghua Capital and Vision Knight Capital were also said to have participated in the investment. The news first appeared on Chinese newswire 36Kr. Requests for confirmation sent to Hillhouse Capital and Morgan Stanley have not elicited any

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