What INOVACE TECHNOLOGIES PTE. LTD. does

INOVACE TECHNOLOGIES PTE. LTD., operating under the Tipsoi brand, is a Bangladesh-headquartered (with Singapore corporate entity) IoT and SaaS company that sells AI-powered biometric attendance hardware integrated with a cloud-based HR and workforce management platform. The company designs and distributes 13 hardware models across the Fastface, Prompt, and TF-80 product lines—incorporating fingerprint, facial recognition, RFID, GPS, and SIM/4G connectivity—and pairs them with software modules covering centralized dashboards, shift scheduling, leave management, field tracking, access control, visitor management, and payroll integration. Its platform is engineered for local infrastructure realities including load-shedding (battery backup) and unreliable internet (SIM connectivity).

The company serves enterprise and corporate customers across 11+ industries in Bangladesh, including conglomerates (Meghna, Akij, Gazi), banking (BRAC Bank, IFIC Bank), NGOs (BRAC, Action Against Hunger), manufacturing (Unilever, Walton, Energypac), government (Bangladesh Computer Council, President's Office), healthcare, education (BUET, ISD), and media, claiming 100,000+ connected users across all 64 districts of Bangladesh. The business model is hybrid: one-time hardware sales (BDT 5,000–80,000+ per device) plus recurring SaaS subscriptions on Basic/Intermediate/Advance/Premium tiers with a minimum 1-year contract term, supplemented by installation/professional services and a customer referral program (200+ active referrers).

Go-to-market is sales-led with direct enterprise field sales in Bangladesh, a Dubai-based global sales headquarters for international expansion, and a strategic distribution partnership with BRACNet. Certifications include ISO 27001 and GDPR compliance, supporting enterprise and government procurement. The company has raised approximately $580,000 across three disclosed funding rounds (2022, May 2025, December 2025), remains founder-led with no disclosed institutional control event, and operates with 51–100 employees.

Name

INOVACE TECHNOLOGIES PTE. LTD.

Legal name

INOVACE TECHNOLOGIES LIMITED

Website

https://tipsoi.pro

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Inovace Technologies (Tipsoi) sells AI-powered biometric attendance hardware—fingerprint, facial recognition, and RFID devices—paired with a cloud HR and workforce management SaaS platform, primarily serving enterprises, factories, banks, NGOs, and government institutions across Bangladesh.

Ownership category

akta.pro rank

Product category

Workforce Management Software

NAICS

Computer Systems Design and Related Services (54151)

SIC

Services-Computer Programming Services (7371)

akta.pro primary industry

Talent Acquisition (Recruiting) & Applicant Tracking (ATS) (BPACAPAD)

akta.pro secondary industries

Contact Center Speech AI (agent assist, IVR automation) (HDAAAFAL), Technical Enablement & Adoption Services (Change Management, Adoption, Champions) (BPAEANAC)

Keywords

• Biometric attendance systems
• Workforce management software
• Cloud HR platform
• Facial recognition devices
• Employee attendance tracking

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Supply Chain, Marketing or Sales, Operations

Revenue model

1. Hardware Sales: Tipsoi sells biometric attendance devices (Fastface series, Prompt series, TF-80) as one-time hardware purchases. Devices include fingerprint scanners, face recognition terminals, and RFID card readers.
2. Software Subscription (SaaS): Tipsoi operates as SaaS with subscription fees payable monthly or annually. Minimum contract period is 1 year. Pricing tiers include Basic, Intermediate, Advance, and Premium packages with varying support levels.
3. Installation & Implementation Services: Charges for device installation, door lock, door-closer, exit button installation. On-site enrollment support and server deployment for customers using their own server are charged separately.
4. Referral Program: Referral rewards program where referrers earn 2 free months and referees get 1 free month of subscription. This drives customer acquisition.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

INOVACE TECHNOLOGIES PTE. LTD. sells the Tipsoi workforce management system, an integrated solution combining AI-powered biometric attendance hardware devices (face recognition, fingerprint, RFID, SIM-based remote devices) with a cloud-based HR SaaS platform. The offering covers attendance tracking, leave management, shift scheduling, field GPS tracking, biometric access control, and payroll integration for enterprise and corporate customers across Bangladesh and international markets.

Product overview

Tipsoi is a comprehensive workforce management ecosystem combining AI-powered biometric attendance devices with a complete cloud-based HR software platform. The product portfolio includes multiple hardware lines (Fastface 5/7/8 series with Lite and Pro variants, Prompt P40/P205/P310, and TF-80 SIM-based device) and software modules (Centralized Dashboard, AI Face Recognition, Shift Scheduling, Field GPS Tracking, Leave Management, Employee Database, Notifications, Biometric Access Control, Workplace Surveillance, Visitor Management, and Payroll Integration). All devices connect directly to the HR software platform for seamless real-time data sync, providing unified attendance tracking, employee management, and payroll automation under one platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Tipsoi HR Software Platform Complete cloud-based HR software platform providing centralized attendance tracking, employee management, payroll processing, shift scheduling, leave management, biometric access control, field GPS tracking, real-time reporting dashboard, and API/SDK integration with existing ERP and payroll systems. Designed for enterprise customers in Bangladesh.
• Tipsoi Fastface Series Biometric Attendance Devices AI-powered facial recognition biometric attendance devices with infrared and RGB camera technology, supporting face recognition in under a second. Variants include standard, Pro, Lite, and portable models with options for fingerprint, RFID, battery backup, and SIM connectivity. Designed for corporate offices, factories, and field deployments.
• Tipsoi Prompt Series Biometric Attendance Devices Cloud-connected biometric attendance devices supporting fingerprint, face recognition, and RFID card authentication. Designed for medium to large factories with real-time cloud monitoring capabilities, suitable for diverse workforce management needs.
• Tipsoi TF-80 SIM-Based Remote Attendance Device SIM card-based remote attendance device designed for factories and field locations where WiFi or LAN is not available. Supports cloud sync automatically via mobile network connectivity, enabling attendance tracking in remote and infrastructure-limited areas.
• Tipsoi Mobile App Mobile application available on Google Play and Apple App Store enabling real-time attendance management, GPS tracking, geofencing, mobile punch, leave approvals, and workforce visibility for managers and employees on the go.
• Tipsoi Installation and Implementation Services Professional services for device installation, on-site enrollment support, server deployment for customers using their own server, door access hardware installation (door locks, closers, exit buttons), and system setup for enterprise customers.

Quantifiable outcome

• Boost team productivity by 20%
• +4 more outcomes

Named customers18 records

Segments9 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability6 records

Feature9 records

Partnerships

One partnership is on record.

• BRACNet LimitedcoreStrategic or Co-development Partner · 4 April 2026Strategic partnership between Tipsoi and BRACNet to expand smart attendance solutions in Bangladesh. Combines Tipsoi's workforce presence verification with BRACNet's connectivity capabilities. Aims to enable more efficient operations for organizations across Bangladesh through integrated IoT biometrics and network infrastructure.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Hubstaff: Workforce management SaaS with time tracking, GPS, and field-team monitoring — overlapping with Tipsoi's Field Team GPS Tracking module for distributed workforces.
• Jibble: Time and attendance SaaS with biometric (face/fingerprint) clock-in via mobile and dedicated devices. Comparable cloud attendance niche with global SMB reach; an emerging competitor in the same category.

Broad incumbents

• UKG (Ultimate Kronos Group): Global workforce management and HCM incumbent with biometric time-clock hardware and cloud workforce management. Established competitor in the attendance/workforce management category where Tipsoi operates.
• Zoho People: Cloud HR platform offering attendance, leave, and time tracking as part of a wider Zoho suite. Competes for SMB and mid-market HR-tech buyers in South Asia with a bundled, lower-cost SaaS approach.
• Ramco Global HR & Payroll: Larger enterprise HR/payroll platform with strong presence across South Asia, Middle East, and Africa. Comparable attendance and biometric capabilities as part of a broader enterprise suite; competes for the same enterprise logos.

Regional players

• greytHR: India-focused cloud HR, payroll, and attendance platform serving SMEs and enterprises. Comparable target segment and overlapping attendance/payroll functionality with Tipsoi's offering.
• eSSL (eSSL Security): Biometric attendance and access-control hardware manufacturer with strong South Asia presence. Comparable hardware product line and customer base to Tipsoi's biometric devices, though primarily India-focused.

Direct peers

• Keka HR: India-headquartered HR and payroll platform with attendance, biometric, and workforce management modules. Comparable target market (mid-market and enterprise in South Asia) and overlapping functionality with Tipsoi's HR suite.
• Darwinbox: Asia-focused HCM/HRIS platform offering attendance, leave, payroll, and workforce management to enterprises across South and Southeast Asia. Directly comparable to Tipsoi's HR-tech stack, though Darwinbox is a pure SaaS play without the biometric hardware line.
• ZKTeco: Global biometric hardware manufacturer (face, fingerprint, RFID readers) with attendance and access-control software. The closest hardware-comparable peer given Tipsoi's biometric IoT device line and similar price points.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/tipsoi

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INOVACE TECHNOLOGIES PTE. LTD.