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Startup Bangladesh Invests in Vroom

Startup Bangladesh Limited, the flagship venture capital company of the ICT Division, decided to back by investing in one of the first online automotive solution providers Vroom Services Ltd. Vroom, launched in late 2017, offers 360-degree service solutions through its website and mobile application related to automobiles.

An agreement was signed recently between the organizations in Dhaka.

Startup Bangladesh Chairman & Senior secretary of ICT division Mr. N M Zeaul Alam PAA, Managing Director Sami Ahmed, Head of Portfolio Investment Hasan A. Arif and Vroom Services Limited Chairman Zia Chowdhury, Managing Director Syed Ahsan Habib, Executive Director Masum Mohiuddin Murad and other stakeholders were present on the occasion.

“The work that Vroom is doing in the Automobile industry is highly commendable and the investment from Startup Bangladesh Ltd in Vroom will help it to be the change maker of the industry. I hope that they will be able to make a deep impact on Smart Bangladesh implementation in the Automobile Industry. The ICT Division is working diligently in changing policies that assist emerging and growing startups in many aspects, whether it is policy level, training, development, etc. With the right strategy and focus, Vroom will be able to make a remarkable example as a successful and sustainable startup in the ecosystem” mentioned NM Zeaul Alam PAA, Senior Secretary, ICT Division and Chairman Startup Bangladesh Ltd.

“Startup Bangladesh aims to support homegrown startups to grow and reach heights that generate higher standards for more Foreign Investment. The local startup ecosystem is greatly influenced by prospective ventures like Vroom, where passion and professionalism, coming together, can provide a single organization with the strength to give its whole industry a significant push forward.”, said Sami Ahmed, Managing Director, Startup Bangladesh Limited.

 “Our goal is to create a single platform where anything and everything related to automobiles is available. No need to go anywhere else. We have built an eco-system with a car buy & sell platform, home & workshop services, corporate fleet management, oil & gas card, parts e-store, auto loan, and auto insurance assistance, ownership transfer assistance, pre-purchase inspection, LPG/CNG conversion, driver & technicians training & many more.” – commented Syed Ahsan Habib, Managing Director of Vroom.

Due to digitalization in the automobile sector still remaining in the nascent phases, customers are missing out on a lot of services and benefits. Hand in hand with its trade partners, along with stakeholders like the ICT Division and Startup Bangladesh Vroom wishes to take the Automobile Sector to new heights. With the funds raised, vroom will initiate a workshop project targeting hybrid and EVs and also venture into skill development programs for mechanics, drivers, and car owners.

Ayrin Saleha Ria is an undergrad student currently studying Applied Sociology at ASA University Bangladesh. She takes a deep interest in human society and behavioral science and loves reading. She works at FS as a Community Management Fellow and writes about interesting companies.

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