Startup Bangladesh, the flagship venture capital firm of Bangladesh’s ICT Division, has announced its investment in AmarLab, a healthcare startup dedicated to improving healthcare services in the country through innovative technology solutions. The organizations signed an agreement to invest 1 crore BDT in AmarLab’s Pre-Seed round in Dhaka recently.
The agreement was signed in the presence of Md. Shamsul Arefin, Chairman, Board of Directors, Startup Bangladesh Limited and Secretary, ICT Division. Startup Bangladesh Managing Director Sami Ahmed, Head of Portfolio Investment Hasan A. Arif, AmarLab Co-founders Tazin Shadid and Dr. Ishtique Zahid, and other stakeholders were present at the event.
What is Amarlab?
- AmarLab is a health mobility startup that works at the intersection of healthcare, logistics, and data to make healthcare accessible to everyone, everywhere. The logistic of life-saving health diagnostics has been broken for decades. AmarLab brings diagnostics to customers’ doorsteps and handles all the logistics.
- AmarLab has created the largest scalable platform for the healthcare diagnostics ecosystem in Bangladesh.
- Customers can select their preferred lab, get diagnostic testing done from their home, office, or any location of their choice, access all their health records in one place, view history, and trends, and make informed decisions to stay healthy.
- Since 2020, AmarLab has conducted more than 50,000 diagnostic tests.
What is Startup Bangladesh Limited?
- Startup Bangladesh Limited is the flagship venture capital fund of the ICT Division. Under the visionary guidance of Honorable Prime Minister Sheikh Hasina, Startup Bangladesh – the first and only venture capital fund sponsored by the government of the people’s republic of Bangladesh, started its journey on March 2020 with an allocated capital of BDT 500 crore.
- The investment in Amarlab comes as part of that mandate to accelerate innovation in Bangladesh.
- Startup Bangladesh has been one of the most active investors in Bangladesh.
Quotes from important people
“I am glad to see Startup Bangladesh investing in AmarLab, a promising tech startup that has the potential to revolutionize healthcare in our country. This investment not only demonstrates the government’s commitment to fostering innovation and entrepreneurship, but also highlights the importance of utilizing technology to address critical challenges in the healthcare sector. I look forward to seeing the positive impact that AmarLab will have on our communities,” said Honorable State Minister Zunaid Ahmed Palak, MP, ICT Division on the occasion.
On the occasion MD. Shamsul Arefin, Chairman, Board of Directors, Startup Bangladesh Limited and Secretary, ICT Division commented, “Amar Lab has been successfully operating and has been making significant impact in the Healthcare sector. I believe that the funding from Startup Bangladesh will enable them to address more demographics. I further anticipate that they will actively participate in the implementation of Smart Bangladesh as a startup. The ICT Division is constantly supporting the startups through various initiatives.”
Speaking about the investment, Sami Ahmed, Managing Director of Startup Bangladesh, said, “We are excited to support AmarLab and its mission to improve healthcare services in Bangladesh. We believe that their innovative technology solutions have the potential to transform the healthcare sector in Bangladesh and make it more accessible to all.”
Tazin Shadid, Co-founder and Chairman of AmarLab, said, “We are thrilled to have the support of Startup Bangladesh in our mission to make quality healthcare services accessible to everyone in Bangladesh. This investment will help us scale our operations and reach more people in need of healthcare services.”
There is more to that
AmarLab has raised BDT 6 crores in pre-seed investments and the latest investment from Startup Bangladesh is expected to help AmarLab expand its operations, improve its technology platform, and reach more patients across Bangladesh.
The investment also demonstrates the government’s commitment to supporting innovative startups and promoting entrepreneurship in Bangladesh.