PulseTech, a growing B2B healthtech platform in Bangladesh, has raised US$3Mn in a Pre-Series A round co-led by Iterative and AVV. The investment marks AVV’s first entry into Bangladesh and reflects increasing interest in technology-driven solutions for the country’s healthcare sector.

Founded in 2021 by Kazi Ashikur Rasul and Arefeen Raafi Ahmed, PulseTech is addressing Bangladesh’s counterfeit medicine problem by securing and streamlining the supply chain through its Medbox platform. The company has expanded rapidly in the past year and now serves more than 12,000 pharmacies, reaching 3.5 million people in Dhaka.

The new funding will support the rollout of PulseTech’s One Pharmacy franchise model, which aims to bring small and non-compliant pharmacies into a unified and compliant framework. PulseTech also plans to expand into South and Southeast Asian markets that face similar distribution challenges and risks related to counterfeit pharmaceuticals.

“I felt an energy in Bangladesh similar to Vietnam when I first visited 15 years ago,” shared Eddie Thai, co-founder of AVV. “The PulseTech team has delivered extraordinary growth, and we are excited to support their journey.”

Hsu Ken, co-founder and managing partner at Iterative, added, “PulseTech grew from US$1Mn to US$13Mn in revenue during their three months in our program. They are solving a fundamental need by allowing pharmacies to access medicine efficiently through Medbox.”

In Bangladesh, medicine distribution is largely manual and fragmented, with many pharmacies sourcing from wholesale markets. This increases the risk of counterfeit products reaching patients. PulseTech sources directly from manufacturers and delivers to pharmacies based on orders placed through Medbox, helping establish a trusted supply chain.

PulseTech also provides digital tools for inventory and order management and facilitates inventory credit for pharmacies by connecting them with financial institutions.

“Our goal goes beyond improving individual pharmacies. We want to reshape how healthcare reaches communities across Bangladesh. By combining technology with embedded finance, we aim to set a new standard for the entire pharma supply chain and ensure reliable access to medicine nationwide and beyond. We want to solve the counterfeit drugs crisis from the roots,” said Kazi Ashikur Rasul, CEO of PulseTech.