Most talked about startup stories in 2023
In 2023, the country's startup sector, known for its agility and forward-thinking approach, has seen remarkable growth and diversification. Here are the biggest startup headlines from 2023:
In 2023, Pathao, a prominent on-demand digital platform in Bangladesh, experienced pivotal growth. July saw the company being awarded the Employment Catalyst Award by Prime Minister Sheikh Hasina, in recognition of its significant role in creating jobs, particularly for the youth. This accolade underscores Pathao's effective use of technology and innovation to empower individuals.
August marked Pathao's expansion into the banking sector with an application for a license to establish Pathao Digital Bank. This strategic move aligns with its mission to elevate user experiences and contribute to Bangladesh's economic growth. Gaining global attention, Pathao secured a position among the top 40 tech firms globally, an achievement that highlights its market leadership and strategic expansions.
In October, Pathao unveiled a new logo, symbolising its commitment to connecting various services such as ride-sharing, delivery, and financial access. This rebranding effort reflects the company's dedication to ongoing innovation.
MedEasy, a Dhaka-based online pharmacy startup, concluded a successful seed funding round in September, securing $750,000. The investment, involving players like Seedstars International Ventures and Startup Bangladesh Limited, is intended to bolster MedEasy's healthcare services in Bangladesh.
MedEasy stands out for its comprehensive approach to healthcare. Besides offering medicine delivery, it allows users to connect with licensed doctors through video consultations. The startup is also working on new features like a subscription-based model, digital vital monitoring system, and an appointment-booking marketplace, showcasing its commitment to continuous innovation.
October saw Arogga, a local medicine delivery startup, raise $5.5 million in seed funding. This funding, led by The Venture Collective, a US-based venture capital firm, aims to revolutionise healthcare accessibility in Bangladesh.
Founded in December 2020, Arogga provides a wide range of healthcare products and services. Its app facilitates easy prescription uploads, ensuring the safe and timely delivery of medicines. Arogga's comprehensive approach focuses on making everyday medicines conveniently accessible in Bangladesh.
Other notable developments in Bangladesh's startup scene
JoBike: Bangladesh's first bicycle rental service, marked its return, promoting sustainable transportation solutions.
Startup Bangladesh: The government's investment arm has approved investments in 11 startups, demonstrating support for the startup ecosystem.
Shark Tank in Bangladesh: A localised version of 'Shark Tank' will be introduced in Bangladesh by Sony Pictures Entertainment and Bongo, in collaboration with Startup Bangladesh.
Wind.app: New startup by Pathao co-founder Elius, Wind.app, has raised $3.8 million.