Alice Labs eyes SE Asia expansion after raising $500K seed fund

Bangladesh-based startup Alice Labs, the company behind multi-channel customer service platform MyAlice, is looking at expanding into Southeast Asia and MENA markets after raising $500,000 seed round of financing.

The funding round was led by early-stage venture capital firm Anchorless Bangladesh, with participation from HOF Capital.

Alice Labs, founded in November 2018 by Shuvo Rahman, develops smart tools and conversational artificial intelligence solutions that manage and automate customer service for e-commerce and online businesses.

The company’s core product, MyAlice, enables businesses to streamline customer service, making it more efficient and customer-friendly. Businesses can connect all of their customer-facing channels to MyAlice to automate conversations for both sales and service.

Incorporated in Singapore with operations in Bangladesh, Alice Labs is currently active across markets in Southeast Asia and South Asia. It works with over 50 e-commerce stores and enterprises through the region through its subscription-based customer service plans.

With this round of financing, Alice Labs said it will expand its market presence in Southeast Asia and MENA markets, enhance its core product and service offerings, build partnerships with key industry players, and further develop its distribution channel to reach more customers.

The company said it is scaling up rapidly and making key hires to accelerate growth across all functions. In the future, the company will continue to refine its capabilities to allow clients to further reduce customer service-related costs by up to 50% and double client sales through greater customer engagement and retention.

“Over the past two years, we have refined our technology and product-market fit, developing a keen understanding of the challenges in the customer service space and unique solutions to address a wide range of client and consumer needs. With this momentum, we believe we can scale our growth across a few key markets through our highly targeted offerings,” said Rahman, the company’s founder and CEO.

Commenting on the investment, Anchorless Bangladesh founding partner and CEO Rahat Ahmed said Alice Labs has an edge in being able to service markets that are often overlooked by larger global players.

Anchorless Bangladesh is an early-stage venture capital fund focused on advancing the local startup ecosystem in Bangladesh with access to global resources. It partners with the best local founders, prioritizing businesses where scalability and social impact are aligned.