The pioneering angel investment network in Bangladesh, Bangladesh Angels Network (BAN), has completed the official signing of an investment deal (closed a pre-seed investment round) with Nitex, recently. It may be mentioned here that Nitex is a software-as-a-service (SaaS) platform which digitises the garment procurement process and allows buyers (of all sizes) from across the globe to seamlessly manage their supply chains in countries like Bangladesh. The signing of the deal, which took place virtually, was confirmed via a press communique issued on 19 January (Tuesday). Underlining that Nitex is well-positioned to drive the next phase of growth in the garment industry for Bangladesh and across the region through their unique combination of backgrounds and skills, Bangladesh Angels’ Chief Executive Officer (CEO) Nirjhor Rahman maintained that there is still a glaring gap between indigenous start-ups in Bangladesh that are introducing digital innovation at scale in the garment value chain. SputnikATX, an accelerator based in Austin, Texas, and Singapore-based investment firm and accelerator, Accelerating Asia, also, reportedly, took part in the pre-seed investment round and invested in Nitex.
