Play store
Bangladesh has achieved a major milestone in its innovation-driven economy, with Startup Bangladesh Limited completing the country’s first-ever investment exit by a state-backed venture capital(VC) fund through its portfolio company, Pulse Tech Limited.
The exit was formally announced at a ceremony held on Tuesday at the ICT Tower, attended by ICT Division Secretary and Startup Bangladesh Chairman Md. Mamunur Rashid Bhuiyan, Startup Bangladesh Managing Director and CEO Nurul Hai, and Pulse Tech co-founders Arefin Rafi Ahmed and Kazi Ashikur Rasul.
Speaking at the event, Bhuiyan said Startup Bangladesh was established to foster innovation-led growth by supporting entrepreneurs and that the successful exit reflects the growing maturity of the country’s startup ecosystem.
Nurul Hai described the achievement as a significant step toward building a sustainable venture capital ecosystem, saying it would help attract greater investment into Bangladesh’s startup sector.
Pulse Tech Co-founder Arefin Rafi Ahmed said the successful exit demonstrates that Bangladeshi startups are capable of building globally competitive companies while delivering positive returns for investors.
Since receiving investment from Startup Bangladesh in 2024, Pulse Tech has become one of the country’s leading technology-driven pharmaceutical distributors. The company reported an average monthly growth of 20 percent over the past 18 months, with annual revenue rising from US$2 million to more than US$150 million.
Pulse Tech now serves about 8.5 million people in Dhaka through a network of 14,000 pharmacies and is preparing to expand into international markets.
So far, Startup Bangladesh has invested in 36 startups, supporting innovation and entrepreneurship across the country.