Category: Newsroom

Startup Bangladesh Limited, the flagship venture capital company of the ICT Division invested in Alice Labs, a leading global SaaS from Bangladesh. Their flagship product MyAlice is a Unified Social Commerce and Messaging Platform Empowering online merchants to convert every customer interaction into revenue.

An agreement was signed recently between the organizations in Dhaka to invest BDT 1 crore.

During the Signing of the agreement MD Shamsul Arefin, Chairman of the Board of Directors of Startup Bangladesh & Secretary of the ICT division, Managing Director of Startup Bangladesh Sami Ahmed, Head of Portfolio Investment Hasan A. Arif, Managing Director of Alice Labs Shuvo Rahman, and other stakeholders were present.

D2C (Direct to Business) brands are losing margins and revenue due to high aggregator commissions, high customer acquisition costs, and drop-offs from websites and messaging channels. MyAlice offers D2C brands by providing a unified platform for customer support, sales, and marketing to help increase their revenue while cutting operational costs. It brings Social & Commerce Together to build Seamless Checkout from Social Chats.

A 3x increase in sales is expected through social media by 2025 and MyAlice aims to play a pivotal part in this. More than 150 businesses across South Asia, Southeast Asia, and the Middle East use MyAlice to increase their revenues from online businesses. Currently, MyAlice is working on Generative AI-based automation to help their customers unlock additional sales opportunities.

“Innovation-driven startups are positioned as the catalysts for meeting market demands and steering a transformative trajectory for significant economic growth. The technological solutions pioneered by these startups play a pivotal role in propelling our nation toward the realization of a visionary future, harmonizing seamlessly with our aspirations for a Smart Bangladesh. With this investment, I believe Alice Labs will contribute to making a lasting impact in the industry and help build a better future,” expressed Honorable State Minister Zunaid Ahmed Palak, MP, Ministry of Posts, Telecommunication & ICT on the occasion.

“The remarkable work undertaken by Alice Labs in the SaaS industry has garnered our attention, and the investment from Startup Bangladesh will catalyze their outreach to a broader audience, both locally and globally. We anticipate that Alice Labs will play a pivotal role in contributing to the implementation of Smart Bangladesh as a startup. The ICT Division is actively shaping policies to support the growth of emerging startups in various dimensions,” stated MD Shamsul Arefin, Secretary, ICT Division and Chairman of the Board of Directors of Startup Bangladesh.

“Startup Bangladesh envisions empowering local startups to ascend to new heights, setting the stage for increased foreign investment. Alice Labs, a leading SAAS platform in Bangladesh, embodies innovation to tackle global challenges at scale. We see Alice Labs as a trailblazer for other SaaS companies emerging from Bangladesh, and with the right strategic focus, we anticipate a global impact originating from Bangladesh,” remarked Sami Ahmed, Managing Director, Startup Bangladesh Limited.

Shuvo Rahman, Managing Director of Alice Labs said, “We are honored to have Startup Bangladesh Limited join our seed round along with some reputed international investors. The future looks exciting, and with this investment, we plan to natively bring Generative AI into our product and scale our company globally.”

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

For more news:

Daily Star: https://www.thedailystar.net/tech-startup/news/startup-bangladesh-invests-bdt-1-crore-alice-labs-3504301

Digibangla: https://digibanglatech.news/startup/119982/?swcfpc=1

Markedium: https://markedium.com/alice-labs-secures-bdt-1-crore-from-startup-bangladesh/

Future Startup.com: https://futurestartup.com/2023/12/27/startup-bangladesh-invests-in-alice-labs/

Biznewsdive: https://biznewsdive.com/startup-bangladesh-invests-bdt-10-million-in-alice-labs/

 

Counterfeit medicine has become a significant problem in developing countries, including Bangladesh. Estimates suggest that fake drugs can make up 30% of all medicines sold in the open market at any given time.

Arogga is a Bangladeshi startup aiming to nip the issue in the bud by making genuine and affordable medication more accessible.

With this goal in mind, the company has recently raised US$4 million in fresh capital, bringing Arogga’s total seed funding to US$5.5 million. The new round was led by The Venture Collective, a US-based venture capital firm.

Source: https://www.techinasia.com/the-venture-collective-backs-bangladeshi-startup-to-fight-counterfeit-medicine

আলোচনার বিষয়: FINANCE FOR WOMEN & YOU

এই বিশেষ অনুষ্ঠানটি দেখতে চোখ রাখুন শনিবার রাত ৯ টায় Bijoy TV পর্দায়। With Barrister Anita Ghazi Rahman from The Legal Circle and Tina Jabeen from Startup Bangladesh. Read More

A startup that is aiming to digitize millions of neighborhood stores in Bangladesh just raised the country’s largest Series A financing round.

Dhaka-headquartered ShopUp said on Tuesday it has raised $22.5 million in a round co-led by Sequoia Capital India and Flourish Ventures. For both the venture firms, this is the first time they are backing a Bangladeshi startup. Read More

Complex angioplasty done by a cardiologist of National Heart Foun-dation Hospital and Research Institute (NHFHRI) has got international recognition as best complex angioplasty of the world.

In its continuation, the European Bifurcation Club in the year 2020 awarded an angioplasty procedure conducted by Prof Fazila-Tun-Nesa Malik, head of the department of cardiology at National Heart Foundation Hospital and Research Institute as the best complex procedure performed in the world. Read More

State Minister for ICT Zunaid Ahmed Palak on Monday said the government is working to develop 40 digital tools as people can use the technological platforms in mother tongue Bangla by 2021.

The activities of the public offices will be shifted from electronic filing to digital filing through integrating modern language tools, he said. Palak made the remarks while addressing a virtual meeting. Read More

The Citi Foundation and United Nations Development Programme (UNDP) co-created Youth Co:Lab as a platform for young entrepreneurs in Asia Pacific towards achieving sustainable development goals (SDGs) through innovative business solutions.

The closing event of “Youth Co:Lab Bangladesh National Springboard Programme 3.0”, was organized virtually by UNDP and Citi Foundation in association with the ICT Division on Thursday, to share the ideas of youth accelerating the implementation of SDGs through leadership, social innovation and entrepreneurship. Read More

The Department of Information and Communication Technology has formulated a roadmap identifying 17 action points, 90 action agendas to lead the new world after Kovid. This information was given at the inter-ministerial meeting on the next course of action today.

State Minister for Information and Communication Technology Junaid Ahmed Palak was present as the chief guest at the inter-ministerial meeting on ‘Covid Next Roadmap’ on Virtual Platform. Read More

Education. Many would agree that education is the backbone of a prospering nation. For a developing country like Bangladesh, education – for a long time – was more of a challenge than a success story. Almost 50 years since its independence, we have come a long way. And our education sector is enriching itself even more now, thanks to brilliant ideas and entrepreneurs. Read More

ডিজিটাল বাংলাদেশের এক্সপেরিয়েন্স নিতে ভিজিট করুনঃ www.digitalworld.org.bd Read More