Startup Bangladesh invests Tk3 crore in Pickaboo

Startup Bangladesh Limited, the flagship venture capital company of the ICT Division, has invested Tk3 crore in Pickaboos' Pre series. 

Pickaboos' Pre-series has raised $1.5 million fund from local, and foreign investors to participate in an Omni channel platform in Bangladesh specialized in mobile, gadgets, and electronics.

An agreement was signed on Wednesday between two organizations in Dhaka, reads a press release.

This platform enables customers to shop online or offline and empowers traditional retailers to set up multi-branded smart gadget shops under Pickaboo. 

The agreement was signed in the presence of NM Zeaul Alam, chairman of the Board of Directors of Startup Bangladesh and Senior secretary of the ICT division.  Ranajit Kumar, Executive Director, Bangladesh Computer Council and Board Member of Startup Bangladesh, Managing Director of Startup Bangladesh  Sami Ahmed, Head of Portfolio Investment  Hasan A. Arif and Co-founder and CEO of Pickaboo Morin Talukder and Co-Founder and Chairman, Md. Aminur Rashid and other stakeholders were present on the occasion.

Morin Hossain Talukder, co-founder and CEO of Pickaboo said," We are working continuously to make Pickaboo better for our users by providing faster delivery and authentic products. The Investment from Startup Bangladesh Limited will empower us to expand our business both online and offline. We will be focusing on new product inclusion, offering faster delivery across the country and automation to ensure a smoother shopping experience".          

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

Since 2016, Pickaboo has been working on building a mobile and gadget hub in the county focusing on mobile, gadgets and electronics. Pickaboo has over 1 million mobile app installs and has delivered a few hundred thousand products to date. Besides, Pickaboo is operating in 18 offline stores across the country and building the smartest smartphone and gadget hub offline. Pickaboo works closely with all major mobile and electronics brands in the country starting from Samsung, Realme, OPPO, Xiaomi, Vivo, OnePlus and 200+ more

Startup Bangladesh is the flagship venture capital company of the ICT Division. Startup Bangladesh - the first and only venture capital fund sponsored by the government started its journey in March 2020 with an allocated capital of Tk500 crore.