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DOOgether snags seed funding

Elvis Gomes April 23, 2019

DOOgether, Indonesia based fitness and classes booking startup has raised an undisclosed amount in a seed funding round led by Gobi Agung which was joined by Everhaus, Prasetia Dwidharma, and Cana Asia. The fresh capital will be used to expand DOOgether’s merchant partner network, develop its mobile app further, and hire more professionals.  

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FreshoKartz raises seed funding

FreshoKartz, an e-commerce platform connecting customers with farmers, has raised

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Truck Lagbe gets $1 million

Truck Lagbe, an online platform connecting truck owners/drivers and shippers,

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Pakistan’s Basic Debts Are Increasing to a Point Nearing Bankruptcy

Pakistan is currently trying to seek a loan for between $6 to

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Enovate Motors snags $298 million

Enovate Motors, Chinese electric vehicle startup, has closed $298 million investment

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Increff bags $3 million from Binny Bansal

Increff, Bengaluru-based supply chain management startup founded by former Myntra executives,

News

running-runner-long-distance-fitness-40751

DOOgether snags seed funding

Elvis Gomes Feature April 23, 2019

DOOgether, Indonesia based fitness and classes booking startup has raised an undisclosed amount in a seed funding round led by Gobi Agung which was joined by Everhaus, Prasetia Dwidharma, and Cana Asia. The fresh capital will be used to expand DOOgether’s merchant partner network, develop its mobile app further, and hire more professionals.  

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FreshoKartz raises seed funding

Elvis Gomes Feature April 23, 2019

FreshoKartz, an e-commerce platform connecting customers with farmers, has raised an undisclosed amount of seed funding. The funding was raised from Chennai-based investor Sunil Kumar Singhvi, along with a group of angel investors and high net-worth individuals.

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Truck Lagbe gets $1 million

Elvis Gomes Feature April 23, 2019

Truck Lagbe, an online platform connecting truck owners/drivers and shippers, has snagged $1 million investment in a pre-Series A funding round. With new funds, the company plans to launch new products, onboard more truck drivers and expand its operations to several new locations. Previously, the company also raised an undisclosed amount of seed funding three months ago.

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Pakistan’s Basic Debts Are Increasing to a Point Nearing Bankruptcy

SD Asia Desk Feature April 18, 2019

Pakistan is currently trying to seek a loan for between $6 to $8 billion from the International Monetary Fund (IMF) to help pull themselves out of debt. The Finance Minister has proposed that money should also be sought in the form of a one-off tax to Pakistanis, where it’s believed that up to $12 billion could be sitting in bank accounts, which could

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Enovate Motors snags $298 million

Elvis Gomes Feature April 18, 2019

Enovate Motors, Chinese electric vehicle startup, has closed $298 million investment in Series A funding round from different public companies and government funds.  With the latest investment, Enovate has so far raised over RMB 6.5 billion ($760 million) in funding since it was founded in mid-2018. Enovate began construction on its first 5.1 billion yuan electric car factory in March 2019

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Increff bags $3 million from Binny Bansal

Elvis Gomes Feature April 18, 2019

Increff, Bengaluru-based supply chain management startup founded by former Myntra executives, has raised around $3 million in Series A funding round led by Binny Bansal, Flipkart co-founder, and 021 Capital, a venture capital firm. Founded in 2016, the startup secured seed funding of $2 million from marquee venture capital firm Sequoia Capital in 2017.

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Bangladesh Bank at risk of cyber attack

Elvis Gomes Feature April 18, 2019

Bangladesh Bank’s central server seems to be at high risk of hacker intrusion and stealing money by placing fraudulent orders as hackers have reportedly installed malware there. The intrusion is not uncommon to us as hackers have penetrated the server before and stole $101 million of Bangladesh Bank that was deposited in New York Fed account in 2016. In March, the Bangladesh

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How To Build A More Successful Career Through Education

SD Asia Desk Feature April 17, 2019

There’s no point in denying the significance of education in your future career advancements. Although there are some notable cases when people without a degree made a great success, such as Steve Jobs or Mark Zuckerberg, these are still rare exceptions. Having a solid education will open up a whole new world of opportunities that otherwise would not have been

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Kuvera gets backed by Eight Roads

Elvis Gomes Feature April 17, 2019

Kuvera, a tech-based wealth management startup, receives investment of $4..5 million from strategic fintech investment team of Eight Roads, the proprietary investment arm of Fidelity International. The company that makes venture capital investments across sectors, had set up a global team for strategic investments in the fintech space across India, China, the UK, Singapore, and Hong Kong to add strategic value to Fidelity’s

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TheLorry gets investment from Unilever

Elvis Gomes Feature April 17, 2019

TheLorry, Southeast Asian logistics startup, got investment of undisclosed amount from global giant Unilever. The startup had just secured $5.85 million in Series B funding round about a month ago. The investment will see Unilever acquire equity in the form of convertible preference shares in TheLorry.

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Collateral free loan for women entrepreneurs

Elvis Gomes Feature April 17, 2019

Recently, the idea of collateral free loan for women entrepreneurs was pushed by National Board of Revenue on grounds that the non-performing loan rate is the lowest among women. It was suggested that the idea should be taken up to Bangladesh Bank by Bangladesh Women Chamber of Commerce and Industry and some related trade bodies.

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Grab opens Accelerator Programme

Elvis Gomes Feature April 16, 2019

Grab announced on Wednesday that it has opened a batch of two accelerator programmes for startups, targeting post-seed businesses focusing on agriculture. The accelerator programme, called Grab Ventures Velocity, aims to nurture 3 to 5 post-seed Southeast Asia-based startups that could empower farmers by creating a sustainable fresh food supply chain in the ecosystem. Collected from: Dealstreetasia

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Four startups give birth to Mekari

Elvis Gomes Feature April 16, 2019

As many as four Indonesian SaaS platform-based startups Talenta, Sleekr, Jurnal, and Klikpajak consolidated their operations to form one entity called ‘Mekari’. The consolidation of these startups would help the SMEs in adopting integrated technology for their businesses. According to the Association of Indonesia Micro, Small, and Medium Enterprises data, there are at least 60 million small and medium enterprises

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Export earnings reach 1.12 billion from Canada

Elvis Gomes Feature April 16, 2019

Bangladesh exported products worth $1.118 billion to Canada and imported $498.16 million from there in fiscal year 2017-18 (FY18). Commerce Minister Tipu Munshi made the disclosure while High Commissioner of Canada to Bangladesh Benoit Prefontaine called on him at the secretariat in the city on Monday. The minister laid emphasis on forming a forum to expand trade and investment and

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BalleBaazi secures $1 million

Ashfaqul Haque Feature April 11, 2019

BalleBaazi, online cricket fantasy gaming platform, has sealed of deal of $ 1million from parent company Baazi games. BalleBaazi plans to use the funds to further expand its verticals and introduce various concepts to enhance the user experience.

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BookEventZ gets backed by Equanimity Ventures

Ashfaqul Haque Feature April 11, 2019

Venture capital firm Equanimity Ventures backs BookEventZ, online event booking platform, in Series A funding round. BookEventZ plans to increase the number of venues to 100 from 30 using the fund by October this year which will be converted to 1000 by 2021.

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Stock Market shows year low rates

Ashfaqul Haque Feature April 11, 2019

Stock market has not seen any development in the last 4 months as investors have lost confidence in the market due to rumors surrounding investors’ getting individual TIN number and liquidity crunch in the market. The benchmark index of Dhaka Stock Exchange, DSEX shows a decline of 1.07% last day. In the last four trading days, the index lost around

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Clozette raises $10 million from Cool Japan Fund

Elvis Gomes Feature April 10, 2019

Clozette, Singapore-based beauty and lifestyle media firm, has closed $10 million in Series C round led by Cool Japan Fund, a public-private fund under the Ministry of Economy, Trade and Industry of Japan. Clozette will use most of funds raised to scale its data-driven content and analytics platform and expand into new markets starting with Thailand.

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Klook raises $225 million in Series D

Elvis Gomes Feature April 10, 2019

Klook, Hong Kong based online travel startup, has bagged $225 million in extended Series D funding round led by SoftBank Vision Fund. The total amount raised in Series D now becomes $425 million. Other participants in the round included, Sequoia China, Matrix Partners, TCV and OurCrowd. The earlier $200 million fundraising was supported by Goldman Sachs, Boyu Capital.

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7.3% growth of Bangladesh projected by IMF

Elvis Gomes Feature April 10, 2019

In 2019, Bangladesh will see a growth of 7.3% according to the World Economic Outlook released on Monday, 9th April by The International Monetary Fund. The report also claims that Bangladesh will see a slower growth of GDP of 7% in 2020 and 2021. The average inflation rate is projected to go 5.4% in 2019.

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Best Practices to generate leads from Social Media

SD Asia Desk Feature April 10, 2019

In today’s technologically advanced and fast-paced world almost every business sector has turned to digitization. But mere online presence is not enough for tempting clients and businesses to buy your commodities. To stay afloat in the market while being challenged by competitors’ day in and day out, you need to implement various strategies to attract potential customers by generating leads

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A Definitive Guide On Investment Opportunities In Insurance Sector

SD Asia Desk Feature April 10, 2019

The global health and life insurance market size is predicted to grow steadily over the next few years to register an annual growth of 6.4 percent. The nominal premium amount of this industry is also predicted to grow a little higher. According to data, the premium development of life insurance was relatively stable during 2018 and will continue to remain

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Styline Turns 4 – A Weeklong Festival to Celebrate!

SD Asia Desk Feature April 10, 2019

Styline steps into its 5th year on 10th April. It comes with a cake that they will cut at 5pm, 10th April, with their customers, well-wishers, and partners; but it won’t end there. It’s a new height for them that they reach, and they want to celebrate it in an extraordinary fashion. A Weeklong Festival It’s just not a day

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Aino snags $4 million

Elvis Gomes Feature April 9, 2019

Aino Indonesia, payment solutions startup has raised a funding of $4 million from Japanese IT giant TIS Inc as it plans to advance its digital payment ecosystem in the country.

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Source Code Capital raises $570 million

Elvis Gomes Feature April 9, 2019

Founded by former Sequoia Capital China partner Yi Cao, Source Code Capital, Beijing based venture capital firm, has closed Source Code Venture IV and Source Code Growth Fund I. The total commitment brought to these funds is around $570 million. The closing of the two funds brings Source Code Capital’s total capital under management to $1.8 billion.

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Stock market scenario different from last 4 post election scenarios

Elvis Gomes Feature April 9, 2019

Last 3 months has been devastating as Dhaka Stock Exchange has seen a drop of DSEX by 9.71% due to the ongoing liquidity crunch and lack of trust of the investors in the market. However, last 4 post election scenarios have been different. In 1996, the then prime index (DGEN) boosted up 78%. In 2001, DGEN rose 26.09%. 2008 also

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Inteluck raises $1 million Series A

Elvis Gomes Feature April 8, 2019

Inteluck, Philippine based digital logistics startup, has bagged $1 million in Series A funding round led by Chinese early stage venture capital firm FutureCap. Launched in 2015, Inteluck is a software-as-a-service platform that offers distribution, fleet, and cargo management as well as delivery data analytics services.

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MFS payment tripled during last year

Elvis Gomes Feature April 8, 2019

The total number of merchants of MFS was around 50,000 in 2017 which shot up 60% in just 1 year and today the number stands at 1 lakh. In February, the amount of payment through MFS stood at BDT 429.83 crore which was only BDT 115.43 crore in the same period of time last year. The reason for this spike

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ezCarter bagged $150 million Series B

Elvis Gomes Feature April 4, 2019

ezCarter, an online catering marketplace, has closed $150 million deal in Series D-1 round led by Singapore wealth fund GIC and US venture capital firm Lightspeed Venture Partners. Other participants include, Light Street Capital, existing investors Wellington Management Company LLP, ICONIQ Capital, Insight Partners, Quadrille Capital, and others.

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Zhongneng United gets backed by Source Code

Elvis Gomes Feature April 4, 2019

Zhongneng United, equipment rental firm, has raised $50 million in Series B funding round led by Beijing based venture capital firm Source Code Capital. The startup also raised CNY 60 million in Series A funding round led by Chinese venture capital firm Buhuo Ventures.

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Dhaka Stocks see 3-month low rate

Elvis Gomes Feature April 4, 2019

Dhaka stocks has gone down by 1.26% which is its 3-month low because of panic sell among the investors. This huge panic has been caused by a rumor that tax identification number would be compulsory for stock investors. However, the rumor has been denied by the Dhaka Stock Exchange’s top officials.

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Intel Capital backs Cloudpick, EEasy Tech

Elvis Gomes Feature April 3, 2019

Intel Capital has made new investments of $117 million in 14 tech startups such as China’s Cloudpick Limited & Zhuhai EEasy Technology Co and Israel’s proteanTecs. Other startups are from US that come from communitions, healthcare and manufacturing industries. Intel Capital makes $300-$500 million investment every year in potential innovative companies around the globe.

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Mswipe closes $30 million Series E round

Elvis Gomes Feature April 3, 2019

Mswipe, Indian fintech firm, has raised $30 million in a Series E round led by Falcon Edge, B Capital Group, Epiq Capital and DSG Growth Partners. The company provides mobile point-of-sale (mPOS) terminals to merchants and plans to expand its merchant base to 1.5 million by 2020.

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VAT return submission service through online opens

Elvis Gomes Feature April 3, 2019

The National Revenue Board has launched VAT return submission service through online on a trial basis to ease the process for large taxpayers. The facility will be launched on August 14 permanently. Syed Mushfequr Rahman is the director for this project which cost BDT 690 crore. Bank Asia Limited, Banglalink, Orion Infusions submitted VAT returns online.

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DingDang Kuaiyao raises $89 million from Softbank

Elvis Gomes Feature April 3, 2019

DingDang Kuaiyao, Chinese online-to-offline medicine retailer, has grabbed around $89 million in Series C funding round led by existing investor Softbank China Venture Capital. Other participants in the funding round included, CMB International, CICC Capital (China International Capital Corporation), and Sinopharm-CICC Capital.

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OYO gets backed by Airbnb

Elvis Gomes Feature April 3, 2019

OYO, Indian hospitality company, has raised an undisclosed amount from world’s largest home-sharing platform, Airbnb Inc. Sources have said that around $150-$200 million has been invested in the startup’s Series E funding round as the US company plans to go public this year.

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28 hi-tech parks to create 3lac jobs

Elvis Gomes Feature, Uncategorized April 3, 2019

Posts, Telecommunications and ICT Minister Mustafa Jabbar declared last Saturday that 28 hi-tech parks are now being constructed outside Dhaka which is likely to create over 3,00,000 jobs in Bangladesh for the youth. He also believes that Bangabandhu Sheikh Mujib Hi-Tech Park, Rajshahi will be a milestone reaching towards Digital Bangladesh as it will create 14,000 new jobs.

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Standigm raises $11.5 million in Series B round

Elvis Gomes Feature April 1, 2019

Standigm, a Seoul based drug delivery and development platform, has raised $11.5 million in Series B round led by Mirae Asset Venture Investment and Mirae Asset Capital. It takes the total amount of funds raised to $15 million. Other participants included, DSC Investment, Wonik Investment Partners and existing investors Atinum Investment, LB Investment and Kakao Ventures, an early stage venture capital arm

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Blue Mobile raises funds in Series C round

Elvis Gomes Feature April 1, 2019

Blue Mobile, a southeast Asia based vending machine and payment platform, has raised an undisclosed amount in Series C round led by online payment giant Ant Financial. Established in 2014, Blue Mobile started its business in China and has expanded its subsidiaries across Thailand, Vietnam, Malaysia, and Indonesia. Blue Mobile has got over 6,000 smart vending machines throughout Indonesia and Thailand

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“female entrepreneurs need policy support and more budgetary allocation”

Elvis Gomes Feature April 1, 2019

On 30th March, 2019, Women Entrepreneurs’ Association, the oldest platform of women for business in Bangladesh, celebrated its silver jubilee at Gulshan Club, Dhaka. Chief guest, Mr. Atiqul Islam, Mayor of Dhaka North City Corporation emphasized on the fact that women contributed a lot in the sector of apparel exports of Bangladesh but people are still unaware of their contribution.

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