• Monday, Dec 06, 2021
  • Last Update : 05:23 pm

Bangladeshi IoT firm Bondstein gets $1m in funding

  • Published at 04:15 pm October 24th, 2021
Bondstein IoT

With this investment, Bondstein aims to expand its IoT technology export in the coming days

Bondstein Technologies Ltd, a market leader of internet of things (IoT) solutions in Bangladesh, has secured an investment worth of $1 million.

The funds will be used to drive acquisitions, R&D of new IoT solutions, increased inventory and expansion of manufacturing facilities, said a press release.

This strategic investment is led by Runner Trading Limited, a subsidiary of Runner Group and is participated by other investors.

With this investment, Bondstein aims to expand its IoT technology export in the coming days.

They serve a wide range of customers through offering connected technologies.

Through Bondstein’s connected vehicles solution, which is known as vehicle tracking services in the market, they are helping their customers to remotely monitor their vehicles and recover them in case of theft.

Apart from being able to save transportation costs, their customers were also able to reduce road accidents using the state of art driving behaviour monitoring feature.

Bondstein is currently serving over 500 enterprise clients for whom they have tracked more than 40 million trips in real time.

Its hardware agnostic proprietary IoT cloud processes over 250 million data transactions per month.

Built on the IoT Cloud, Bondstein also provides remote power monitoring solutions in over a thousand telecom towers across the country

Bondstein is also serving customers across the border in Kuwait and Nepal.

It also has a partnership with Robi Axiata Limited.

“Our plan is to be a regional IoT powerhouse in the next 10 years. Our investment in innovation will help us build new solutions and provide affordable IoT services in practical use cases," said Zafir Shafiee Chowdhury, co-founder and CIO of Bondstein.

Hafizur Rahman Khan, Chairman, Runner Group, said: “Bondstein has a proven capability of innovation and solving real life problems. We are certain that with our experience and network we can help the tech company to reach newer heights.”

ZA Capital was the financial advisor of the deal.

Bondstein has a unique value proposition in the deep tech space. With the right kind of strategic investors like Runner, the company will scale fast, said Zahedul Arefin, CEO of ZA Capital.

Bondstein recently made an investment in Bangabandhu HiTech City Kaliakoir, where a leading IoT assembly unit of the country has been built.

They are the first company in Bangladesh to roll out LoRa technology commercially.

Their expertise in working with the latest deep tech solutions has been instrumental for their business growth.

Bonstein was previously felicitated with the National ICT Award by the ICT Division.

Winning the BASIS National ICT Award for two consecutive years in 2019 and 2020 was also a memorable feat.

Echelon Singapore selected the company as a top 100 startup in 2015.

The company also received ISO 9001:2015 certification.

78
Facebook 71
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail