STARTUPS
“Godmother of AI” raises USD 230 mln for AI startup
An artificial intelligence researcher, Fei-Fei Li also nicknamed as the “Godmother of AI” has raised USD 230 million for AI startup “World Labs” along with her three colleagues to develop AI technology that can comprehend how the three-dimensional physical world works, the company announced on Friday.
Bangladeshi Stanford graduate’s AI startup receives $750K funding
Story Engine Inc., an AI startup co-founded by Bangladeshi Stanford graduate Sheikh Srijon, has received $750,000 in pre-seed funding from the reputed venture capital firm Andreessen Horowitz (A16Z). The startup, founded by Sheikh Srijon, Zhizhuo Zhou, and Wanrong He, aims to revolutionise the realm of webtoon and anime creation through generative AI technology.
Press Release / Optimizely earns 'Great Place To Work' certification
Optimizely earns 'Great Place To Work' certification, celebrates culture of innovation and employee well-being
AI startup by OpenAI co-founder raises $1 bln
Safe Superintelligence (SSI), a new AI startup co-founded by Ilya Sutskever, former chief scientist and co-founder at OpenAI, has raised $1 billion in cash. In an interview with Reuters, SSI announced its goal to build "safe AI systems that far surpass human capabilities".
Bangladeshi-born founder’s Australian startup acquired for $16 bln
AirTrunk, a data centre group founded by Bangladeshi-Australian entrepreneur Robin Khuda, is set to change hands in a USD 16.1 billion (AUD 23 billion) deal.
Footsteps co-founder Shah Rafayat named Asia 21 Next Generation Fellow
Shah Rafayat Chowdhury, co-founder of the social venture organisation Footsteps, has been selected as one of the 38 young leaders to join the Asia 21 Next Generation Fellows for 2024.
2 Bangladeshi startups in Forbes Asia 100 To Watch list
Two Bangladeshi startups - Tiger New Energy, a company offering battery-swapping technology for electric vehicles (EV), and iFarmer, an agritech platform - has recently made it to the Forbes Asia's 100 to Watch list for 2024.
Shikho was blacklisted from government funding, says CEO
Shahir Chowdhury, the founder and CEO of the Bangladeshi edtech startup Shikho, recently stated in a Facebook post that his company had been blacklisted from receiving government funding. According to Chowdhury, Shikho was close to securing an investment, which included BDT 5 crore from Startup Bangladesh Limited (SBL) as part of a larger USD 1.5 million funding round. However, SBL abruptly withdrew its support just before the agreement was to be signed, citing political reasons.
Bangladeshi startup Dark Kak wins award at She Loves Tech 2023
Dark Kak, a Bangladeshi tech startup that works with Augmented Reality (AR) with the Internet of Things (IoT), has won an award for their upcoming project ‘Smart Jewellery’. The award, titled ‘Catalyzing Women’s Entrepreneurship Award’, was presented by the United Nations Economic and Social Commission of Asia and the Pacific (UN ESCAP) at the She Loves Tech 2023 conference held at the Fairmont Hotel in Singapore. Dark Kak was entitled to a 15,000 USD cash prize from UN ESCAP and She Loves Tech.
Investment in Bangladeshi startups sees significant decline
The local startup scene is experiencing notable downward shifts in funding trends, even as the global startup ecosystem indicates slight growth. On a global scale, startup investments have risen marginally by 7%, totalling a formidable USD 73 billion in the third quarter of this year. But funding in Bangladesh plummeted to a mere USD 4.0 million in Q3 2023, a drastic 77% decline in comparison to the same period last year. This trend was revealed in the recently released Bangladesh Startup Investment Report for Q3 2023 by LightCastle Partners.
Medicine delivery startup Arogga raises $5.5M
Arogga, a local medicine delivery startup, has recently raised US$5.5 million seed in a funding round led by The Venture Collective, a US-based venture capital firm, with participation from other international investors. As per an official press release, the startup secured $4 million in new capital, building on the $1.5 million raised in the previous year.
Shark Tank comes to Bangladesh
The globally acclaimed business show, 'Shark Tank', which has aired in over 40 countries, is set to have a localised version in Bangladesh. Sony Pictures Entertainment and Bongo has inked a deal to introduce the popular reality show in the country with Robi on board as the 'Title Sponsor', supported by Startup Bangladesh as the 'Powered by' collaborator.
Pathao among 40 global technology companies beating their Western rivals
Pathao, the popular on-demand digital platform, has been chosen as one of the top 40 global technology firms that are outperforming their Western counterparts. The list was prepared by Rest of World, a New York-based tech-focused news publication founded by Sophie Schmidt, the daughter of former Google CEO Eric Schmidt.
Grab reportedly in talks to grab Foodpanda's business in Asia
Delivery Hero, the Berlin-based parent company of Foodpanda, has confirmed ongoing discussions about a partial sale of its Asian operations. Singapore's tech giant, Grab, is reportedly the front-runner in this potential acquisition. While the exact value of the deal remains undisclosed, market insiders speculate that the transaction could exceed 1 billion euros for the Foodpanda brand across several Southeast Asian nations.
Bangladeshi startup MedEasy raises $750K in seed funding
MedEasy, a Dhaka-based online pharmacy startup, has successfully closed a seed funding round, raising $750,000. The investment is aimed at expanding its services and bridging the healthcare gap for Bangladesh’s 30 million chronic patients. The funding round was led by Seedstars International Ventures, Doha Tech Angels, Startup Bangladesh Limited, Accelerating Asia, and nVentures, with additional participation from various angel investors.
2 Bangladeshis named in Vogue Business 100 Innovators 2023
Two Bangladeshis have been listed in the Vogue Business 100 Innovators for the year 2023.
Bangladesh Women Investors Network launches startup fellowship for women
The Bangladesh Women Investors Network (BWIN) is launching an initiative called Bloom Fellowship that aims to equip young women with skills and knowledge required to perform in startup environments. It is a semester-long talent accelerator program with curated mentorship, training, and internships designed towards Bangladeshi women between the ages of 20 and 24.
Bangladeshi Nabanita in Forbes’ 30 under 30 Toronto list
Nabanita Nawar, a Bangladeshi researcher and entrepreneur residing in Canada, has been featured in the Forbes’ ‘30 Under 30 Local: Toronto’ list. This is the popular business magazine’s first-ever list of this kind, and she is the only Bangladeshi to be featured.