Tipsoi maker Inovace joins Accelerating Asia, eyes global growth

Inovace Technologies Limited, the Dhaka-based developer behind Tipsoi, has been selected for Cohort 11 of Accelerating Asia, a Singapore-headquartered accelerator and venture capital platform. The move marks the company's first formal engagement with international investors and reflects growing interest in Bangladesh's enterprise-tech segment.

Founded in 2017 by a group of BUET graduates, Inovace has emerged as a notable player in the IoT-enabled workforce management space. Its flagship solution, Tipsoi, combines biometric attendance hardware with a cloud-based analytics system to help businesses track employee attendance, leave, and shift data in real time. The company reports a portfolio of over 1,200 clients, spanning SMEs to major institutions such as BRAC, Brac Bank PLC, and Radiant Pharmaceuticals.

As part of Accelerating Asia's 11th cohort, Inovace joins a group of startups that have previously leveraged the accelerator to scale operations across Southeast Asia and beyond. Notable Bangladeshi alumni include PriyoShop, Markopolo.AI, and Palki Motors.

Accelerating Asia will lead Inovace's pre-seed investment round, with the company currently raising US$ 800,000 to support domestic expansion and exploratory entry into international markets.

"Inovace has so far operated as a bootstrapped venture, focusing on refining its product-market fit and building strong execution capabilities. We are now entering a phase of accelerated growth and see strategic value in international investment partnerships," said Munirul Alam, chief executive officer of Inovace Technologies. Managing Director Asif Aminur Rashid also confirmed the development on social media.

The selection comes amid a broader trend of Bangladeshi startups seeking cross-border capital and accelerator support to scale. Accelerating Asia has formally announced Inovace's inclusion via its official digital platforms.

With this development, Inovace Technologies looks set to broaden its operational footprint and contribute to the visibility of Bangladesh's emerging tech ecosystem in the regional innovation landscape.