Staff Reporter : PulseTech, one of Bangladesh’s fastest-growing B2B health-tech companies, has raised USD 3 million in a pre-Series A round co-led by Vietnam’s early-stage venture capital firm- Ascend Vietnam Ventures (AVV) and Singapore-based accelerator fund Iterative.
The investment marks AVV’s first deal in Bangladesh and reflects growing international confidence in the country’s technology-driven healthcare transformation.
The funding will support PulseTech’s nationwide expansion of Medbox and the rollout of One Pharmacy, a franchise model designed to bring thousands of small, informal pharmacies into a unified, compliant, and digitally enabled ecosystem.
By aggregating demand and ensuring sourcing directly from verified manufacturers, One Pharmacy strengthens medicine traceability, enhances regulatory visibility, and equips pharmacies with digital tools to improve operational efficiency, inventory management, and financial access.
Arefeen Raafi Ahmed, Founder & Managing Director, PulseTech, said, “Our mission is to ensure pharmacies receive products only from verified sources, so patients never have to question the authenticity of the medicines they rely on. PulseTech believes that technology should help people,
not complicate their lives.” Kazi Ashikur Rasul, Co-founder & Chief Executive Officer, PulseTech, added, “Our goal goes beyond improving individual pharmacies. We want to reshape how healthcare reaches communities across Bangladesh by building a transparent and trusted medicine distribution network.”
Eddie Thai, Co-Founder, AVV, said, “We have long been looking for teams capable of driving meaningful change in emerging markets. PulseTech’s execution, vision, and rapid growth reflect a deep understanding of Bangladesh’s healthcare challenges and opportunities.”
Hsu Ken, Co-Founder and Managing Partner, Iterative, noted,
“The company grew revenues from USD 1 million to USD 13 million within three months. Their blend of pharmaceutical knowledge and product innovation is rare, and it shows in their performance.”
Founded in 2021, PulseTech operates Medbox, a data-driven ordering and logistics platform that enables pharmacies to source authentic medicines directly from verified manufacturers. Over the past year, the company has scaled rapidly, serving more than 12,000 pharmacies and reaching approximately 3.5 million people in Dhaka.