Pickaboo received an investment of 1.5 million dollars

Startup company pickaboo has been added to the list of receiving foreign investment. The company, which sells mobile phones and electronic products online and at retail outlets, has received domestic and foreign investment of USD 1.5 million, which is Tk 15.75 million in local currency.

Pickaboo received this pre-series investment from local and international investors. The Indian company Zero has led this investment. Investors include Startup Bangladesh, Bangladesh Angels and Kustav Dash.

Confirming the matter, pickaboo’s co-founder and chief executive officer (CEO) Morin Hossain Talukder said that Startup Bangladesh is investing 3 crore rupees out of 16 crore rupees. It is a government owned venture capital company.

Pickaboo started traditional e-commerce in 2016. At that time, Aminul Rashid, chairman of Edison Group and Arun Gupta, founder of Indian company Momagic, were co-founders with Morin Hossain Talukdar. Currently pickaboo has 65 employees.

Pickaboo changed its business model after being hit by Corona. Then they decided to launch omni channel. As a result, a single brand mobile phone vendor becomes a multi-brand mobile phone vendor. These outlets are operated on a franchise basis called pickaboo. At present, the number of such sales centers outside Dhaka and Dhaka is 18. So far pickaboo has agreements with eight mobile phone brands.

When asked, Morin Hossain Talukder said, “We will spend the new investment money to expand the online and sales center business and improve the delivery system to the customers.”