Disruptech Ventures led the round, joined by OneStop Capital, Axian Investment CVC, Egypt Ventures, and other investors.

This investment comes nearly two years after i’SUPPLY’s $1.5 million pre-seed round, also led by Disruptech Ventures.

The fresh capital will be used to enhance the company’s growth strategy and revolutionize its support for smaller pharmacies.

“This investment accelerates our ability to empower pharmacies,” said i’SUPPLY CEO and Co-Founder Ibrahim Emam.

The company is pursuing a license from the Egyptian Financial Regulatory Authority to directly address pharmacies’ financing needs.

“Our core mission is to meet the growing demand for funding and tackle working capital shortages faced by pharmacies and distributors,” Emam added.

Malek Sultan, Co-Founder and Partner at DisrupTech Ventures, highlighted the critical need for financing solutions in the Egyptian pharmacy landscape.

Founded in 2022, i’SUPPLY aims to digitize the pharmaceutical industry by offering a comprehensive solution for managing supply chain disruptions.

Their platform streamlines transactions between drug manufacturers, distributors, wholesalers, and pharmacies.

Since its inception, i’SUPPLY has reportedly processed over one million purchase orders and facilitated an annual transaction volume exceeding EGP 1 billion (US$20.9 million).

Their network connects over 10,000 pharmacies, collaborates with more than 200 distributors, and offers a portfolio of over 10,000 pharmaceuticals.

This news follows the Egyptian Health Care Authority’s announcement on June 7, 2024, regarding partnerships for digital transformation and service mechanization within healthcare facilities.