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. 

Pickaboo, a Bangladeshi platform specializing in mobiles, gadgets and electronics, has raised $1.5 million in pre-series funding from both local and foreign investors to participate in an omni-channel platform in the country. The platform will allow customers to shop online or offline and enable traditional retailers to set up multi-branded smart gadget shops under Pickaboo.

The agreement was signed in the presence of various officials from Startup Bangladesh, an initiative to promote digitalisation, and the press release stated that the investment will help Pickaboo expand its business both online and offline. The company plans to focus on including new products, offering faster delivery across the country and implementing automation for a smoother shopping experience.

Since 2016, Pickaboo has been working on building a mobile and gadget hub in the country, with over 1 million mobile app installs and 18 offline stores across the country. The company works with all major mobile and electronics brands in the country, such as Samsung, Realme, OPPO, Xiaomi, Vivo and OnePlus, among others. Startup Bangladesh is a government-sponsored venture capital company that invests in promising and impactful startups in Bangladesh. It was launched in March 2020 with an allocated capital of Tk500 crore.