Pulse Raises $4 Million Seed Round Led by 3one4 Capital to Build a Full-Stack Medical Equipment Brand from India
Bengaluru-based medical equipment startup Pulse has closed a $4 million seed round to build a full-stack, asset-light medtech manufacturing platform — designing, sourcing, and delivering affordable, globally compliant medical equipment from India at scale.
The round was led by 3one4 Capital, with participation from Incubate Fund Asia, Stride Ventures, and a group of angel investors that includes the founders of Blackbuck and Agrizy. The fresh capital will be used to set up a dedicated R&D hub, accelerate product development across categories, secure regulatory certifications, and build out a pan-India distribution and service network.
Why this matters
India today imports close to 80% of its medical equipment despite operating one of the world's largest healthcare markets and possessing a deep MSME manufacturing base. The bottleneck, in Pulse's view, isn't manufacturing capability — it's the fragmentation across design standards, quality systems, regulatory compliance, branding, service infrastructure, and market access that prevents Indian manufacturers from competing with global incumbents.
Hospitals and distributors are left with high costs, long lead times, and limited reliable alternatives. Meanwhile, MSME manufacturers struggle with under-utilised capacity, inconsistent quality, and unpredictable demand. Pulse is built to close that gap.
How Pulse works
Founded in 2025 by Anshul Sharma and Nishant Goel, Pulse aggregates manufacturing capacity from India's MSME ecosystem and layers on the things that turn raw production into a trusted hospital-grade product:
- Product design and engineering done in-house
- Standardised quality and process systems across manufacturing partners
- Regulatory readiness — ISO 13485, CE, BIS/CDSCO, MD13, DL20B
- Branded, service-backed go-to-market with on-ground support across India
In its initial phase, Pulse is focused on low- and mid-complexity equipment and consumables — areas where India has strong manufacturing depth — and is targeting mid-sized hospitals with 50 to 200 beds across categories like critical care and renal care. The longer-term ambition is to build a horizontal OEM platform out of India, serving multiple medical equipment categories for both domestic and global markets.
India's hospitals face a persistent challenge — critical medical devices are predominantly imported, expensive, and come with service infrastructure that doesn't match the pace and scale of Indian healthcare delivery. The current macros have created a very strong opportunity to build a world-class, home-grown medtech brand. We've been deeply impressed with the groundwork Nishant and Anshul have laid in such a short time, and we're excited to back this team. — Akshay Sharma, Principal, 3one4 Capital
What's next
The funds will go toward establishing a dedicated R&D hub, expanding the engineering team, and pushing several products through regulatory certification over the coming year. Pulse currently operates with a 25-member team headquartered in Bengaluru and plans to scale its distribution footprint across India alongside its product pipeline.
The global medical devices market is estimated at over $550 billion. Pulse is betting that the next decade of growth in this space will be driven not by where devices are made, but by who can integrate design, quality, regulation, and service into a single trusted brand — and do it from India.