Astha IT joined hands with Fakir Fashion to increase its global footprint

Astha IT, a globally operating and Bangladesh's leading IT software and technology consultancy company secured about $2 million investment from the country's reputed apparel manufacturing company Fakir Fashion Ltd, aiming to increase its global footprint as well as dominate in local market. 

Fakir Fashion Managing Director Fakir Kamruzzaman Nahid and Astha IT Funder and Chief Executive Officer (CEO) Md Hasnaeen Rizvi Rahman signed an agreement regarding the issue on Tuesday (28 May) in the capital, according to a press release. 

Astha IT was founded in 2008, and currently, its headquarters is in the USA, globally offering top-rated and vetted coding talent for scalable solution development for governments, large-scale enterprises, industries, and startups. 

The company has over 500 talented professionals and is renowned for their expertise in areas such as AI, DevOps, cloud computing, and cutting-edge software development.

On the other hand, Fakir Fashion opened its door to the apparel manufacturing business in 2009 as an independent vertically integrated knit garment setup, and currently exporting worth about $170 million clothes annually. 

As per the two companies' agreement, Fakir Kamruzzaman Nahid will be the new Chairman of Astha IT, while Hasnaeen Rizvi's designation will be unchanged.

Talking with TBS Fakir Kamruzzaman Nahid said, "Fakir Group has a good reputation across Bangladesh's business industry and abroad. On the other hand, Astha IT is providing information technology support for over 15 years, and they have many leading customer.

"I believe that our joint work and capitalising our reputation will help to be a country's largest IT support providing farm."

After this investment, they will focus on increasing their global footprint.  

"Company reputation is very important to get after seals service, though this accusation Fakir will help to boost global consumer's confidence, as we have a long experience to serve global customers", he added. 

In its 15-year journey, Astha IT has over 50 foreign customers and completed over 1,200 projects successfully. The company provides skilled IT engineers for companies, and governments for short and long terms. 

It has provided AI support for companies as well.

As per the new agreement, Fakir Fashion will invest multi-million dollars in Astha IT aims to leverage the strengths of companies, driving innovation and accelerating digital transformations across various sectors Worldwide.

Astha IT CEO Hasnaeen Rizvi said, "We have over 500 software engineers, and most probably, we are the first IT-based Bangladeshi company who have an office in the USA. 

"We reached here by our own support. We feel a partnership and chose Fakir Fashion for their good reputation and commitment. This alliance will extend our global horizons to an endless extent! We are looking forward to spreading all over the world!"

During the program, Bangladesh Association of Software and Information Services (BASIS) president Russle T Ahmed drew attention to the emerging IT industry of Bangladesh and its immense potential to empower its youth and make use of its human resource.

Bangladesh Knitwear Manufacturers and Exporters Association Vice President Fazlee Shamim Ehsan said, "Software and information services are key elements for every sector, and currently the area is dominated by foreign companies.

"I hope, this alliance will help the local farm to provide better service to us, and dominate Bangladesh's market."