Bangladeshi healthtech platform PulseTech has secured $3 million in a pre-Series A funding round to combat the nation's counterfeit medicine crisis. The round was co-led by Iterative and Ascend Vietnam Ventures (AVV), marking AVV’s first-ever investment in the burgeoning Bangladeshi market. This strategic capital injection will accelerate PulseTech's mission to bring transparency and efficiency to the pharmaceutical supply chain.
Tackling a Critical Public Health Crisis
Bangladesh faces a significant public health challenge, with estimates suggesting that one in every ten medicines reaching patients is counterfeit. This issue stems from a highly fragmented and manual distribution system with patchy oversight, creating opportunities for substandard products to enter the market. The reliance on loosely supervised wholesale markets exposes both pharmacies and consumers to unacceptable risks.
In response, PulseTech developed "Medbox," a B2B digital platform that directly connects retail pharmacies with verified pharmaceutical manufacturers. This model bypasses traditional, unreliable intermediaries, ensuring the authenticity and traceability of every product ordered through the system. The company has already onboarded over 12,000 pharmacies, demonstrating strong market adoption for its solution.
Fueling Growth with Strategic Initiatives
A significant portion of the new funding is allocated to launching the "One Pharmacy" franchise model, a key strategic initiative. This program is designed to convert thousands of small, non-compliant pharmacies into a unified, tech-enabled network operating under a standardized framework. The model aims to elevate quality control and regulatory adherence across the country's vast retail pharmacy landscape.
The investment will also bolster PulseTech's core technology and financial services offerings for its pharmacy partners. The company plans to enhance its data-driven distribution engine and expand its software tools for inventory and order management. Furthermore, it will scale an inventory-credit product that connects retailers with financial institutions, providing essential working capital.
Strong Investor Backing and Proven Traction
The funding round signals strong confidence from two of the region's most active early-stage investors. For AVV, this marks a landmark entry into Bangladesh, with co-founder Eddie Thai comparing the country's current momentum to Vietnam's past economic dynamism. This investment underscores the growing international belief in Bangladesh's startup ecosystem and its potential for high-impact ventures.
Co-leader Iterative reaffirmed its conviction after witnessing PulseTech's exceptional performance, having first invested in early 2025. The startup's revenue grew an astounding 15 times in the last year, a trajectory that impressed investors and validated its market strategy. This rapid growth is credited to the founders' deep industry knowledge and strong operational execution.
This $3 million pre-Series A round is a pivotal milestone for PulseTech, empowering it to scale a solution for a life-threatening problem. By modernizing the pharmaceutical supply chain and empowering local pharmacies, the company is not just building a business but a vital public health infrastructure. With a clear vision for regional expansion, PulseTech is well-positioned to become a standard-bearer for safe medicine distribution in South Asia.