Markopolo AI takes Bangladesh to Silicon Valley

Markopolo AI, a startup founded in Bangladesh in 2021, has emerged as a globally recognised artificial intelligence company after securing a place in one of Silicon Valley’s most competitive startup residencies and pivoting its business towards predictive AI solutions for e-commerce.

Founded in Dhaka by Tasfia Tasbin and Rubaiyat Farhan during the Covid-19 pandemic, the company initially focused on helping businesses optimise advertising campaigns through artificial intelligence.

Since then, it has transformed into a platform designed to help e-commerce and direct-to-consumer (DTC) brands recover lost sales and improve customer retention.

The company gained international attention after being accepted into HF0, a highly selective founder residency programme in San Francisco that admits fewer than 10 startup teams annually from thousands of applicants worldwide. Following the programme, Markopolo AI shifted its focus from marketing technology to predictive AI for e-commerce businesses.

“We want Markopolo AI to be the company that helps every online store in the world grow.

It does not matter where you are based or how big you are. We want to be the reason your customers come back,” said Tasfia Tasbin, Chief Executive Officer and co-founder of the company.

Markopolo AI’s flagship technology, ATHENA, is designed to predict a shopper’s intent before a purchasing decision is made. According to the company, the system can anticipate user behaviour 10 to 30 seconds before an action occurs, helping businesses engage customers who might otherwise abandon their purchases.

The company said early deployments of the technology increased cart recovery rates from approximately 12 per cent to more than 35 per cent.

ATHENA operates as an ultra-lightweight edge AI platform and can communicate with customers through email, SMS, WhatsApp, push notifications and AI-powered voice calls. The platform also supports multiple languages, including Bengali.

“Most brands send the same message to everyone and hope it works. What we built actually understands each shopper and reaches out in a way that feels personal,” said Rubaiyat Farhan, Chief Technology Officer and co-founder.

The startup has received backing from investors and organisations including HF0, Transpose VC, Startup Bangladesh Limited, Accelerating Asia, iDEA, Joa Capital and TAQADAM.

Markopolo AI has also earned several international accolades. The company won the AI Oasis Hackathon at LEAP 2024 in Saudi Arabia, securing a $40,000 grant, and was selected among the top 10 startups in South Korea’s K-Startup Grand Challenge.

In 2023, both founders were named in the Forbes 30 Under 30 Asia list.

Before launching Markopolo AI, Tasbin worked extensively in the artificial intelligence sector, including with Singapore-based Gaze AI, and served as an adviser to United Nations initiatives and Bangladesh’s digital innovation programmes.

Farhan previously founded software platform Onethread and studied at both Bangladesh University of Engineering and Technology (BUET) and the Institute of Business Administration (IBA) at the University of Dhaka.

Now operating across Bangladesh, Saudi Arabia and the United States, Markopolo AI says it aims to help businesses worldwide recover US$100 billion in lost revenue by 2030.