Startup Bangladesh Records First Successful Exit Through Pulse Tech
- Startup Bangladesh completes its first successful investment exit. The exit was achieved through health-tech startup Pulse Tech.
- It is Bangladesh's first state-backed venture capital exit.
- Pulse Tech's annual revenue grew from US
Bangladesh has reached a historic milestone in its innovation-driven economy and startup ecosystem. Startup Bangladesh Limited, the government's only venture capital and fund management company under the Information and Communication Technology (ICT) Division, has completed its first successful investment exit through its portfolio company, Pulse Tech Limited. The transaction marks Bangladesh's first-ever exit by a state-backed venture capital fund.
The exit was formally completed during a special ceremony held on Tuesday, August 4, at the ICT Tower.
Government Officials Highlight a Milestone
The event was attended by Md. Mamunur Rashid Bhuiyan, Secretary of the ICT Division and Chairman of Startup Bangladesh; Nurul Hai, Managing Director and CEO of Startup Bangladesh; Arefin Rafi Ahmed, Co-founder and Managing Director of Pulse Tech; Kazi Ashikur Rasul, Co-founder and CEO of Pulse Tech; and other senior government officials.
Speaking at the event, ICT Secretary Md. Mamunur Rashid Bhuiyan said:
"Startup Bangladesh was established with a long-term vision of acting as a catalyst for innovation-led growth by nurturing entrepreneurs. Our first successful exit is an important institutional milestone and reflects the growing maturity of Bangladesh's startup ecosystem."
Startup Bangladesh CEO Nurul Hai described the achievement as a key step toward building a sustainable venture capital ecosystem, adding that it would help attract more investment into the country's startup sector.
Pulse Tech Co-founder Arefin Rafi Ahmed expressed gratitude to Startup Bangladesh, saying the successful exit demonstrates that Bangladeshi startups can build world-class companies while delivering positive investment returns.
Rapid Growth of Pulse Tech
After receiving investment from Startup Bangladesh in 2024, Pulse Tech emerged as one of Bangladesh's leading technology-driven pharmaceutical distributors.
Over the past 18 months, the health-tech startup has maintained an average monthly growth rate of 20 percent, increasing its annual revenue from US$2 million to more than US$150 million.
The company currently serves 8.5 million people in Dhaka through a network of 14,000 pharmacies and is preparing to expand into international markets.
To date, Startup Bangladesh has invested in 36 promising startups, supporting innovation and entrepreneurship across the country.
//DBTech/SIM/MIS/OR//
