Accelerating Asia Selects 5 Startups, Two From Bangladesh

Accelerating Asia, a prominent early-stage venture capital accelerator based in Singapore, has unveiled its thirteenth cohort, a selection process marked by unprecedented competition. From an applicant pool exceeding 724 ventures spanning 20 nations, the accelerator has chosen just five companies, with a notable emphasis on the Bangladeshi startup ecosystem. This latest cohort underscores Accelerating Asia's sustained strategic focus on Bangladesh, a market where it has actively invested since 2019.

The selection for Cohort 13 represents a significant evolution for Accelerating Asia, prioritizing businesses with established market presence and demonstrable revenue streams. Each of the five selected companies has already achieved market traction with paying customers, with several reporting six-figure annual run rates. This shift indicates a move towards supporting more mature, growth-stage founders, reflecting a maturing venture capital environment in the region.

Among the five chosen ventures are two from Bangladesh: DIGIBOX and Govaly. DIGIBOX is pioneering Bangladesh's first IoT-enabled delivery locker network, offering a shared logistics infrastructure solution designed to integrate with e-commerce platforms, financial institutions, and retailers. The company claims its network slashes delivery expenses by up to 40% and reduces failed delivery attempts by as much as 80%. With 55 operational locker sites, DIGIBOX has already processed nearly one million deliveries, serving over 123,000 users and handling approximately 1% of all e-commerce orders for major platforms like Daraz in Bangladesh, alongside partnerships with entities such as BRAC Bank.

Govaly positions itself as Bangladesh's premier e-commerce marketplace for fashion and beauty, differentiating itself through a rigorous brand and seller verification process. This curated approach contrasts with broader, less specialized marketplaces. The platform boasts an average order value of $22, reportedly three times the national average, and maintains a cancellation rate of 11%, significantly lower than the industry norm of nearly 30%. Its direct-from-seller fulfillment model enables delivery speeds approximately 80% faster than market competitors. Founders Himel Faraz and Jeion Ahmed report substantial growth, surpassing 100,000 users and 70,000 orders within their first year.

The inclusion of two Bangladeshi startups in this highly competitive cohort of five highlights the growing strength and innovation within the country's tech sector. Accelerating Asia has a strong track record in Bangladesh, having supported over 20 local startups to date, a figure that surpasses most other markets in its portfolio outside of Singapore, Indonesia, and India. Previous successful investees from the region include iFarmer, Shuttle, and biniyog.io, many of whom have subsequently secured larger institutional funding rounds.

These five selected companies will now participate in Accelerating Asia's intensive 100-day program, culminating in a Demo Day scheduled for July 15 in Singapore. This program is designed to accelerate their growth and prepare them for future investment rounds. The accelerator has also announced that applications for its fourteenth cohort will open shortly, signaling continued interest in identifying and nurturing promising early-stage companies globally.