Bangladesh-based B2B health-tech company PulseTech has raised $3 million in a pre-Series A funding round co-led by Ascend Vietnam Ventures and Singapore-based accelerator fund Iterative. The investment marks Ascend Vietnam Ventures’ first deal in Bangladesh and signals growing international confidence in the country’s fast-evolving digital healthcare ecosystem.
The fresh capital will be used to accelerate the nationwide expansion of PulseTech’s Medbox platform and to scale its new franchise model, One Pharmacy. The initiative aims to bring thousands of small, informal pharmacies into a unified, compliant, and digitally enabled network.
Through demand aggregation and direct sourcing from verified pharmaceutical manufacturers, One Pharmacy enhances medicine traceability, strengthens regulatory oversight, and equips pharmacies with digital tools for inventory management, operational efficiency, and improved financial access.
PulseTech founder and Managing Director Arefeen Raafi Ahmed said the company’s core mission is to ensure pharmacies receive medicines only from verified sources, so patients never have to doubt authenticity. He emphasized that PulseTech is focused on using technology to simplify, not complicate, access to trusted healthcare.
Co-founder and Chief Executive Officer Kazi Ashikur Rasul added that the company’s ambition extends beyond individual pharmacies. He said PulseTech is working to reshape how healthcare reaches communities across Bangladesh by building a transparent and trusted medicine distribution network.
Eddie Thai, co-founder of Ascend Vietnam Ventures, said PulseTech stood out for its strong execution, vision, and understanding of local healthcare challenges. Meanwhile, Hsu Ken, co-founder and managing partner at Iterative, revealed that the company scaled revenues from $1 million to $13 million within just three months, highlighting the strength of its product-market fit and rapid growth.
Founded in 2021, PulseTech operates Medbox, a data-driven ordering and logistics platform that allows pharmacies to source authentic medicines directly from verified manufacturers. Over the past year, the company has expanded its reach to more than 12,000 pharmacies across Bangladesh.
