IoT company Bondstein raises $1 mln

Bondstein Technologies Limited, an IoT company based in HiTech City Kaliakoir, Gazipur, Bangladesh, has secured an investment worth $1 million, led by Runner Trading Limited, a subsidiary of Runner Group. 

The newly acquired funds will be used to drive acquisitions, research and development of new IoT solutions, increased inventory and expansion of manufacturing facilities, as well as expansion into IoT Technology export, according to a company press release. 

"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 of Bondstein, in the press release.   

In a statement, Hafizur Rahman Khan, Chairman, Runner Group has 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 investment deal.