KOPI KENANGAN

Indonesia's Kopi Kenangan raises $8M seed funding from Alpha JWC Ventures

Navojit Dastidar October 21, 2018

On Thursday, Indonesian coffee chain Kopi Kenangan announced its recent seed funding of US$8 million from Indonesia-focused venture capital firm Alpha JWC Ventures. Kopi Kenangan is Indonesia’s fastest-growing grab-and-go coffee chain. Within a year, it already opened 16 stores in Greater Jakarta area, and the number will keep on rising as the company plans to operate a total of 30

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Cambodia's Meal Temple raises 6-figure funding

Cambodia-based startup Meal Temple Group, which operates food delivery platform MealTemple.com and

green-bond-market-XL_721_420_80_s_c1

IFC launches $1 billion masala bonds

A World Bank Group member, International Finance Corporation launched $1

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Bengaluru-based startup Universal Sportsbiz raises $13.5 million

Fashion based startup Universal Sportsbiz Pvt. Ltd. raised around 100

HKAILab

First batch of Hong Kong AI Lab accelerator to be launched by Alibaba and SenseTime

As part of the Hong Kong government’s effort to boost

nasa-space-apps-challenge-2018-2-1539972492923

BASIS organizes NASA Space Apps Challenge 2018

With the assistance of BASIS Student’s Forum, BASIS has brought

News

KOPI KENANGAN

Indonesia’s Kopi Kenangan raises $8M seed funding from Alpha JWC Ventures

Navojit Dastidar Feature October 21, 2018

On Thursday, Indonesian coffee chain Kopi Kenangan announced its recent seed funding of US$8 million from Indonesia-focused venture capital firm Alpha JWC Ventures. Kopi Kenangan is Indonesia’s fastest-growing grab-and-go coffee chain. Within a year, it already opened 16 stores in Greater Jakarta area, and the number will keep on rising as the company plans to operate a total of 30

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Meal_Temple_Cambodia.png.cf

Cambodia’s Meal Temple raises 6-figure funding

Navojit Dastidar Feature October 21, 2018

Cambodia-based startup Meal Temple Group, which operates food delivery platform MealTemple.com and grocery delivery platform GroceryDelivery.asia., has raised an undisclosed six-figure round private European and Australian investors. The company was established 5 years ago, at the nascent stage of the Cambodian startup ecosystem. The company plans to use the newly-raised funding to grow its local operations and extend its logistics services to more

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IFC launches $1 billion masala bonds

Elvis Gomes Feature October 21, 2018

A World Bank Group member, International Finance Corporation launched $1 billion Masala Bonds to strengthen India investments. The 1st Tranche of $100 million was opened last night on the London stock Exchange. It was sold to different sections of investors, including asset managers, banks and a pension fund in the US and Europe. Masala Bonds are used to raise funds

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434D3F5100000578-4788990-UK_Equity_Income_funds_can_provide_an_attractive_level_of_income-a-4_1503331494355

Bengaluru-based startup Universal Sportsbiz raises $13.5 million

Elvis Gomes Feature October 21, 2018

Fashion based startup Universal Sportsbiz Pvt. Ltd. raised around 100 crore rupees in Series E funding round by existing investor Accel Partners. Alteria Capital also fueled $1 million in the new round. The new round of funding values the company at $160 million which was around $100 million previous year. USPL intends to use the funds in growing retail network

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HKAILab

First batch of Hong Kong AI Lab accelerator to be launched by Alibaba and SenseTime

Navojit Dastidar Feature October 21, 2018

As part of the Hong Kong government’s effort to boost innovation in areas including AI, biotech and fintech, e-commerce giant Ali Baba and Hong Kong’s first unicorn SenseTime established The Hong Kong AI Lab in May. It has now picked seven startups that will receive funding under its accelerator program. The AI lab will provide each of the selected startups

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BASIS organizes NASA Space Apps Challenge 2018

Elvis Gomes Feature October 21, 2018

With the assistance of BASIS Student’s Forum, BASIS has brought you NASA Space Apps Challenge 2018. From 9 cities (Dhaka, Sylhet, Chittagong, Barisal, Rangpur, Mymensingh, Khulna, Barisal and Comilla), over 2000 initiatives submitted entries and the best 40 initiatives were chosen to attend the 36-hour Hack-a-thon on 19th-20th October,2018. Over 500000 students were associated with the event virtually and around

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CMED Health wins Innovative Social Enterprise Award in Singapore

Elvis Gomes Feature October 21, 2018

It was a proud moment for Bangladesh when CMED Health won the Innovative Social Enterprise Award in Education sponsored by The Head Foundation in 2018 DBS-NUS Social Venture Challenge Asia (SVC Asia). In the fifth edition of this initiative, $135,000 cash prizes were awarded to the startups in different categories. This competition seeks out and assists concepts that has the

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The Bangladeshi micro-merchant retail scene is a billion dollar sector

Navojit Dastidar Feature October 18, 2018

In Bangladesh, more than $18.42 billion a year is transacted by 2 million people through micro-merchant retail trade, according to a United Nations study. The United Nations Capital Development Fund (UNCDF), the UN’s capital investment agency for the world’s 48 least developed countries, and Dnet, a social enterprise based in Dhaka, published the study report at a programme at the

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smule

$20M investment for music social network, Smule

Navojit Dastidar Feature October 18, 2018

App maker turned music social network Smule has raised another $20 million. The latest round follows a $54 million raise in May of last year, led by Tencent, intent on helping the company expand Asia operations. This time out, funding is arriving via Times Bridge, the VC wing of India media conglomerate The Times Group. “Building the Smule brand in India is

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fastwork

Fastwork raises US$4.8M led by Gobi Partners

Navojit Dastidar Feature October 18, 2018

Online freelancing platform, Fastwork, with operations in Thailand and Indonesia, announced today it has secured US$4.8 million in Series A financing round led by regional venture capital firm Gobi Partners. Vickers Venture Partners, LINE Ventures, and Partech Partners also joined the round, which brings Fastwork’s total amount raised to date to US$5.5 million. “SMEs are growing at an unprecedented pace

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Flexible Pass

Myanmar’s fitness platform Flexible Pass raises six-digit dollar round

Navojit Dastidar Feature October 18, 2018

Burmese health and fitness platform, Flexible Pass, has successfully raised a round worth six-digit dollar round by Nest Tech, a VC firm that actively backs startups in Myanmar, Vietnam, and Singapore. The round was joined by Seed Myanmar and Yangong Capital Partners (YCP), which is the investment arm of the financial advisory firm, Trust Venture Partners (TVP). Flexible Pass will

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A multi-ethic group of elementary age children are sitting in tthe computer lab and are playing education games on a tablet.

YouTube personalities to be incubated for educational content

Navojit Dastidar Feature October 18, 2018

YouTube personalities with focus on educational video content targeting children and young adults will be supported by The EduCreator Incubator of Next 10 Ventures, a $50 million fund based in Los Angeles. The incubator will seed 25 to 40 “emerging video creators” with $25,000 to $75,000 in seed funding, depending on their location, and will enroll them in a 12-month

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MFS

MFS providers highlight unfair advantage of Post Office’s Nagad

Navojit Dastidar Feature October 18, 2018

Mobile financial services (MFS) in Bangladesh have highlighted the unfair advantage that the Post Office’s mobile banking service, Nagad, poses. They also expressed their worry about the potential misuse of Nagad for money laundering and terrorist financing. Nagad allows customers to make a single transaction of BDT 50,000 and maximum BDT 250,000 in 10 transactions per day and withdraw maximum

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Gobi

Indonesia gets new US$10 million early-stage VC fund

Navojit Dastidar Feature October 17, 2018

The Gobi-Agung Fund is a US$10 million fund launched this week in Indonesia by Gobi Partners. Gobi Partners is a regional venture capital which is offering ticket sizes of up to US$1 million from the aforementioned fund. Arya Masagung, who joined the firm this year to oversee their early-stage investment strategy in Southeast Asia with a focus on the Indonesian

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malaysia-digital-tax

After Singapore, Malaysia introduces Digital Tax

Navojit Dastidar Feature October 17, 2018

Following the handover of political power to the opposition party in the general election of 9 May 2018, Malaysian government is undergoing a significant revamp in its financial management philosophies. As such, Malaysia is about to become the second country in Southeast Asia after Singapore to introduce a tax scheme for the digital sector. The rationale of the tax is aimed to level

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bb2

Bangladesh Bank allows holding foreign loan collaterals without approval

Navojit Dastidar Feature October 17, 2018

In an effort to streamline international finance, the Bangladesh Bank has made provision for local commercial banks to hold collaterals on behalf of the on-resident lenders against external loans, availed by the state entities, without prior approval from Bangladesh Bank (BB). “We’ve relaxed regulations allowing the authorised dealers (AD) banks to hold collaterals against external loans without prior approval from

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NUS

NUS rolls out entrepreneurship friendly scholarships

Navojit Dastidar Feature October 16, 2018

Speaking of innovation, National University of Singapore (NUS) has introduced scholarships for first year undergraduate students who are keen on starting their own venture upon graduation. The scholarship will cover tuition fee and living expenses for four years of undergraduate studies and allows recipients to apply for seed funding of up to S$50,000 for their start-ups, upon graduation. Awardees will

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Priyoshop

PriyoShop empowers rural Bangladesh through financial inclusion

Navojit Dastidar Feature October 16, 2018

In a joint effort by Microsoft-Young Bangla and PriyoShop to connect the grassroots entrepreneurs with e-commerce platforms, the latter has set up operations in Moulvibazar. Following this pilot launch, PriyoShop aims to expand to all 64 districts across Bangladesh. The duo aims to empower the people of Bangladesh by bringing them under financial inclusion by promoting ‘made in Bangladesh’ products. By becoming

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Microsoft Co-founder Paul Allen dies at 65

Elvis Gomes Feature October 16, 2018

A high-tech demigod, Paul Gardner Allen died on Monday, 15th of October, 2018, from non-Hodgkin’s lymphoma in Seattle, USA. Tweet from Microsoft on Paul Allen’s death Having a net worth of $26.1 billion, he was considered the 27th richest person in the world. He recently donated $100 million to brain research and $25 million to the search of extraterrestrial life.

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Zomato

Alipay invests $210M in Zomato

Navojit Dastidar Feature October 15, 2018

Indian food-delivery and restaurant discovery platform, Zomato, has a signed a deal with Alipay Singapore Holding Pte. Ltd. to raise about $210 million. Alipay, digital payments arm of Chinese e-commerce giant Alibaba, is an existing shareholder of Zomato. This will lead to parent company Info Edge’s shares in Zomato to be diluted down to 27.68 per cent from the currently

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Jack Ma

Jack Ma to train tech entrepreneurs in Indonesia

Navojit Dastidar Feature October 15, 2018

An adviser to the Indonesian government on e-commerce and executive chairman of China’s Alibaba Group Holding, Jack Ma, plans to open an institute to train thousands of tech entrepreneurs in Indonesia. “We’re giving a lot of opportunities for young Indonesian people to learn,” Ma told reporters after meeting Indonesian ministers on the sidelines of the International Monetary Fund and World

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insurtech

A new era in insurance with ‘Easylife’

Navojit Dastidar Feature October 15, 2018

Guardian Life Insurance has become the first insurance company in Bangladesh to bring digital Online Term Life Insurance—‘Easylife.’ In Bangladesh’s context, the company thus can be called a market mover. At the helm of the company, sits its Managing Director M M Monirul Alam who has already retained the reputation of being a visionary leader in the country’s insurance industry amassing

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Uric Acid Test at your home now

Elvis Gomes Feature October 14, 2018

People can now test their uric acid level of blood by themselves with just a piece of paper. This paper is invented by a team of researchers from Bangladesh University of Engineering & Technology which has made checking uric acid level an easier process. Though the invention is in its development stage, the patent has been filed. The process would

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MMTutors

Myanmar’s MMTutors gets funded

Navojit Dastidar Feature October 14, 2018

MMTutors, Myanmar’s online tutor booking platform, has raised a five-digit dollar denominated investment led by Seed Myanmar, an early-stage technology fund. The round was also joined by Trust Venture Partners Myanmar, and angel investor Aung Htun. The edtech startup will use this fund to rapidly grow with an aim to improve Myanmar’s education system. “We established MMTutors to help eliminate

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New Mobile Banking Service “NOGOD” launched by Bangladesh Post Office

Elvis Gomes Feature October 14, 2018

Bangladesh Post Office is coming up with their new digital financial service to upgrade the quality of service provided to terminal users. This service will be operated under the “Bangladesh Postal Act Amendment 2010”. With 9886 post offices around the country and over 100 years of experience in managing monetary services, Bangladesh Post Office believes that it can protect its

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GoBolt

Aavishkaar funds Mumbai-based GoBolt

Navojit Dastidar Feature October 14, 2018

Indian logistics tech firm GoBolt has raised $5.5 million from Aavishkaar Venture Management Services in Series A. The fund is deployed from Aavishkaar’s growth-stage fund, Aavishkaar Bharat Fund. GoBolt provides data analytics and IoT leveraged logistics support to companies. The firm, which is focused on express cargo movement and serves leading ecommerce, FMCG and consumer durables companies through its owned and

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Datasoft

DataSoft goes to Nepal

Navojit Dastidar Feature October 14, 2018

Spreading its wings to Nepal is yet another feat for Datasoft after winning contracts in Japan and Saudi Arabia. The Bangladeshi tech giant inked a deal to provide software and cloud services to Nepal Finsoft Company, a Kathmandu-based fintech company. “This is the first large-scale software product signing between Bangladeshi and Nepalese companies,” said Manjur Mahmud, chief operation officer of DataSoft,

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Apicta

Bangladesh wins 6 awards at Apicta including a Championship

Elvis Gomes Feature October 14, 2018

From 9th to 13th October, Apicta Awards 2018 took place in Guangzhou, China, where 205 startups participated and 27 of them were from Bangladesh. FEED M initiative of Rajuk Uttara Model College became the only champion in Senior Student Project category. Moreover, Sindabad.com won in Startup of the Year category, Project SHOBJANTA from St. Joseph’s High School in Senior Student Project category,

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Post offices to make e-commerce delivery in Bangladesh

Navojit Dastidar Feature October 11, 2018

Post Office will deliver parcels for online marketplaces to all parts of the country from now onwards, in a development that can be viewed as a shot in the arm for the e-commerce players. “The post office has the largest delivery platform and e-commerce entrepreneurs could use this infrastructure to reach the remotest parts of the country easily,” said Posts,

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Bino & Jantrik to compete in global competition Slush 2018

Elvis Gomes Accelarator, Bangladesh, Competition, Feature, Investor, News, Startup October 11, 2018

Bangladeshi startups BINO & JANTRIK are all set to participate in Slush 2018 Global Impact Accelerator. Hosted in Helsinski, Finland from 27th November to 6th December, over 100 startups will pitch before investors in this information & technology based global event. World’s biggest venture capital firms invest in these high potential participating startups. To select the startups to compete in

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yher Bangladesh: Celebration of Women Changemakers

Navojit Dastidar Feature October 11, 2018

Build Bangladesh and ygap Australia and have jointly hosted the pitch day event of the first ever female – led flagship accelerator program named yher Bangladesh – Celebration of Women Changemakers on 6th October 2018 at the Institute of Architects Bangladesh. yher Bangladesh, a women exclusive accelerator program, commenced on the 29th of September 2018 for a week-long group training

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From left to right: Samad Miraly, Sanchayan Chakraborty, Minhaz Anwar, Jayesh Parekh, Naima Chowdhury, Tina Jabeen, Akkie Okma, H.E. Harry Verweij, Kazi M. Aminul Islam, Sajid Rahman, Maliha Quadir, Tanveer Ali and Nazmul Karim

Bangladesh Angels Announces Launch, Opening a New Era in Start-up Investing in Bangladesh

Navojit Dastidar Feature October 7, 2018

Bangladesh Angels, a trailblazing investment network in the country, was inaugurated at Radisson Blu Dhaka Water Garden on 4th October, 2018.  The event was graced by the presence of venture capitalists, financiers, entrepreneurs and other stakeholders from both Bangladesh and abroad.  H.E. Harry Verweij, the Ambassador-Designate of Kingdom of the Netherlands, and Mr. Kazi M. Aminul Islam, Executive Director, Bangladesh

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SolShare Creates Solar Entrepreneurs in Bangladesh

Ashfaqul Haque Feature September 30, 2018

In Bangladesh about 17 million people benefit from 5.2 million solar home systems installed in the remote areas of the country. But the problem arises when the home systems produce more energy during the day than the residents could use and store in rechargeable batteries. In this process, around 30% of the produced energy may be wasted. Addressing the problem,

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French Delegates Experience Dhaka Startup Scene

Navojit Dastidar Feature September 30, 2018

Startup Dhaka hosted a team of two French delegates for a maiden effort to forge strong ties between the French and Bangladeshi startup scenes. Terming the day as “Intense”, Sophie Clavelier, French Trade Commissioner, along with her Bangladeshi counterpart, Pierre-Henry Lenfant, Economic Counselor of the Embassy of France in Bangladesh, visited some startup destinations in Dhaka. The French Delegates observing

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Top Management of Bongo BD Spoke at Telecoms World Conference 2018

Ashfaqul Haque Feature September 30, 2018

With a view to bringing together all the telecoms leaders in the Middle East region Telecoms World Middle East Conference takes place every year. This year, the event took place in Dubai where the CEOs, CXOs and the leaders across TMT industry gathered in one platform to share the knowledge on technology, innovation, variation and the partnerships that can transform

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Google Backed Informal Job Marketplace App Kormo Launched in Dhaka

Ashfaqul Haque Feature September 30, 2018

Area 120, an incubation programme led by Google has recently launched an informal Job focused marketplace called Kormo in Dhaka. This mobile app based platform will help connect the job seekers with the businesses that are looking to hire people.   Kormo app lets the job seekers create a Digital CV on the platform and be matched with the potential

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BD Venture Launches Crowdfunding Platform Fund SME

Ashfaqul Haque Feature September 27, 2018

Venture Capital Company BD Venture LTD launched country’s first ever web-based crowdfunding platform ‘FundSME.com.bd‘. Through this initiative, it will help entrepreneurs to raise the necessary capital from the crowd to accelerate their businesses. Mr. M Ehsanul Haque, the Chairman of BD Venture LTD disclosed the news at a programme on 26th September 2018. Syed Almas Kabir, the President of the

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UNDP and Citi Foundation honour youth-led social enterprises for achieving SDGs

Ashfaqul Haque Feature September 26, 2018

United Nations Development Programme (UNDP) and the Citi Foundation awarded three top-performing social-enterprises led by young people for their innovations as startup ecosystem, to achieve the Sustainable Development Goals, at an event held on 07 September at the Bangabandhu International Conference Center (BICC), Dhaka. The event titled “Accelerator Bangladesh: National Dialogue to Foster the Startup Ecosystem in Bangladesh” was the

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[Photo Credit: Mehedi Hasan/ Dhaka Tribune]

Bangladeshi Ride-sharing Startup Shohoz Raised $15M Investment

Ashfaqul Haque Feature September 24, 2018

Shohoz, a Bangladeshi ride-sharing and e-ticketing startup managed to raise $15M in a pre-Series B round. The funding was led by Singapore based capital venture firm Golden Gate Ventures. The funding round was also participated by Linear VC, 500 Startups and angel investor Koh Boon Hwee.   Shohoz is one of the earliest tech-startups in Bangladesh. It was the first

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Bangladesh Round of SLUSH GIA 2018

Navojit Dastidar Feature September 24, 2018

The Bangladesh round of Slush Global Impact Accelerator (GIA) took place at the office of Startup Bangladesh on 16th September 2018. The event was participated by emerging Bangladeshi tech-startups, angel investors, esteem judges representing renowned organizations and the members from the startup community of the country. Slush Global Impact Accelerator (GIA) is a platform for supporting impactful startups. This platform

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