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Startup Bangladesh Limited, a government-backed venture capital (VC) firm, is set to make a strategic investment worth Tk 10 million in Pulse Tech, a local healthcare venture, to expand retail pharmaceutical operation in the country.
To this effect, the Startup BD made the formal announcement at a signing ceremony held at the ICT Division in the city's Agargaon area on Thursday.
The investment is expected to help Pulse Tech widen its range of services in the retail pharmaceutical sector, said a statement issued by the Startup BD, an entity under the ICT Division.
Chairman of the Board of Directors at Startup Bangladesh and Senior Secretary of the ICT Division Md. Shamsul Arefin, Managing Director of Startup BD Sami Ahmed, Pulse Tech Co-founder and Managing Director Arefeen Raafi Ahmed and its Co-founder and CEO Kazi Ashikur Rasul were present along with other officials of the organisations.
Mr Shamsul Arefin said the investment in Pulse Tech is a calculated step towards enhancing the country's national healthcare infrastructure.
"Through this investment, we aim to empower Pulse Tech to further innovate and broaden its services in the retail pharma industry, which are pivotal for the advancement of healthcare technology in Bangladesh," he said.
Mr Sami Ahmed highlighted the significance of the partnership.
"We believe in the transformative power of technology and are proud to partner with Pulse Tech as they spearhead digital healthcare innovation. Our investment reflects our confidence in their vision and our commitment to nurturing startups that are crucial in driving technological advancement and economic growth," he said.
According to the statement, Pulse Tech Ltd. is known for its innovative solutions for the retail pharmaceutical industry in Bangladesh. They are providing the retail pharmacies with an all-in-one B2B Software as a service or SaaS platform to seamlessly source products, manage inventory, and track all transactions in a hassle-free digital environment.
With the fresh investment, Pulse Tech is poised to accelerate the development of their technologies and expand its operations, focusing on enhancing the efficiency of retail pharmacies and accessibility of authentic medicines throughout the country.
Arefeen Raafi Ahmed said the guidance and support from the Startup BD will play a crucial role in helping Pulse Tech to achieve organisational goals and make a positive impact on the country's retail pharmaceutical industry and healthcare landscape.