Startup Bangladesh completes historic venture capital exit via Pulselabs
Staff Correspondent
Startup Bangladesh Limited, the government’s flagship venture capital company under the ICT Division, has achieved Bangladesh’s first state-backed venture capital exit through health-tech startup Pulselabs Limited.
The exit was finalized Tuesday at the ICT Tower in the presence of ICT Division Secretary and Startup Bangladesh Chairman Md. Mamunur Rashid Bhuiyan.
Officials highlighted the achievement as a major milestone for the national innovation ecosystem, validating venture capital as a viable asset class in Bangladesh.
Since securing initial government investment in 2024, tech-driven pharmaceutical distributor Pulselabs scaled its annualized revenue from $2 million to over $150 million while maintaining profitability. Currently serving 14,000 pharmacies and 8.5 million people in Dhaka, the company is now preparing for a Series A funding round to fuel nationwide expansion and international entry into Gulf markets.
