Singapore-based venture capitalist firm, Accelerating Asia, has provided funding to three Bangladeshi startups – Shuttle, Markopolo, and MedEasy.
Accelerating Asia started its program in 2019 and targeted to support high-growth early-stage startups. In 2021, this accelerator program started making follow-on investments into its portfolio companies. Nine new startups and four existing portfolio companies have joined the sixth cohort of the VC accelerator’s flagship program and received funding.
MedEasy and Marko Polo are two of the new firms from Bangladesh that received funding as part of cohort six, while Shuttle obtained follow-on funding.
Shuttle, a transportation technology startup that started its operations by making daily commutes affordable and convenient for female commuters received a follow-on funding after raising USD 750,000 last year in its seed round led by Accelerating Asia. The startup has now focussed on expanding its business by moving to a B2B model, serving clients such as Standard Chartered and HSBC.
Meanwhile, MedEasy is a health tech initiative that provides, video consultations with doctors and delivers medications to patients’ homes. More than 100 doctors registered on its platform and 75,000 users are taking services from this program. MedEasy served over 20,000 medicine orders in 2021 and saw a significant increase in revenue.
Markopolo, an IT firm that developed an artificial intelligence digital marketing assistant based on thousands of relational datasets. This platform allows the user to create targeted advertising in minutes, select the appropriate creative and AI-powered copy, schedule postings ahead of time, and track their performance in real-time. The monthly revenue of Markopolo has increased to 30% within 1 month of joining the Accelerating Asia program.