Dhaka-based health-tech startup PulseTech has raised USD 3 million in a pre-Series A funding round, signaling growing investor confidence in Bangladesh’s digital health and pharmaceutical infrastructure space. The round was co-led by Vietnam-based venture capital firm AVV and Singapore-headquartered accelerator Iterative, marking AVV’s first investment in Bangladesh.

Founded in 2021 by Kazi Ashikur Rasul and Arefeen Raafi Ahmed, PulseTech operates Medbox, a B2B digital ordering and logistics platform that allows retail pharmacies to source medicines directly from verified manufacturers. By bypassing fragmented wholesale markets, the platform aims to address Bangladesh’s long-standing challenge of counterfeit and substandard medicines while improving traceability across the pharmaceutical supply chain.

The newly raised capital will be deployed to scale operations nationwide, roll out a new “One Pharmacy” franchise model targeting small and non-compliant pharmacies, and prepare for regional expansion into South and Southeast Asian markets facing similar challenges. Through aggregation and standardization, PulseTech seeks to bring informal pharmacies into a compliant ecosystem while improving regulatory visibility.

PulseTech has reported rapid growth, expanding more than fifteen-fold over the past year. The platform currently serves over 12,000 pharmacies, reaching approximately 3.5 million people in Dhaka. In addition to logistics, PulseTech provides digital tools such as MediPOS for inventory management and daily operations. The data generated through these systems enables partnerships with financial institutions to offer inventory-backed credit, supporting financial inclusion in a largely cash-based segment.

Investors cited both execution capability and market relevance as key drivers of the deal. AVV highlighted PulseTech’s ability to scale despite Bangladesh’s evolving political landscape, while Iterative noted strong revenue growth during its accelerator program, driven by demand for efficient, technology-led alternatives to traditional pharmaceutical distribution.

Bangladesh’s pharmaceutical market is expected to exceed USD 6 billion by 2025, with local manufacturers supplying nearly all domestic demand. However, estimates suggest that up to 10 percent of medicines in circulation may be counterfeit or substandard, posing serious risks to patient safety. PulseTech positions itself as a critical infrastructure player addressing this systemic gap by combining technology, logistics, and financing.

Looking ahead, the company aims to move beyond operational efficiency to reshape medicine access at scale, with a long-term ambition of becoming a regional pharmaceutical infrastructure platform.