‘Kinso’ Teachable Grocery Retail Store Chain Seeks $500K Pre-Seed Funding1 min read
Kinso, a technology-driven smart mini super-shop chain in Bangladesh built by the startup “Durjoy DSS”. The company is sourcing products directly from FMCG companies & farmers bypassing 6 layers of intermediaries through the modern technology-built digital platform, which enables them to offer products at a price that the company claims no one can.
“Kinso” is a portfolio startup of Idea Project of the ICT Division under the Bangladesh Ministry of Posts and Telecommunications. After starting their operations in September 2022, they received an investment of 10 lakhs BDT from the ICT division, followed by a cloud credit of 80 lakhs BDT and a grant of 3 lakh BDT as the winner of Huawei ICT Incubator.
The startup is reportedly looking forward to expanding the business scope through a foreign investment of $500,000 USD in a ‘pre-seed’ round from venture capital firms in Thailand, Vietnam, and the US, which is currently an ongoing process. Also, the startup has shown interest in raising equity capital from Bangladeshi individuals & venture funds.
Kinso Co-founder Imam Aaronno said, “The commodity food market in Bangladesh is currently worth more than $40 billion dollars, our goal is to provide good quality products at an affordable price to 50 million people in Bangladesh.
Their board of advisors includes Gary Brown, the former chief executive of the world’s largest retail chain ‘Seven Eleven’ Malaysia, NewChip Accelerator Mentor Tino Rayes, Richard Hahn of VinaCapital Ventures, whose experience is working towards building Bangladesh’s largest retail chain with smart technology. The startup is looking forward to building the biggest retail chain in Bangladesh including 20,000 more existing micro-retailers under their banner.
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