New Investments
Egypt's i'SUPPLY Secures pre-Series A Funding to Boost Digital Pharmacy Solutions
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.
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
You may also like...
Ethiopia-based Micro-Insurance Startup Jamii.One Secures New Investment From Renew Capital
Renew Capital, an impact-focused venture capital firm investing in early-stage African startups, has backed Ethiopia-based micro-insurance startup Jamii.one with a new investment.
San Francisco Fintech Elevate Secures $5 Million to Expand Into Africa
Elevate, a fintech company specializing in US banking services for non-resident remote workers, announced today the closing of a $5 million equity-debt pre-Series A funding round led by Negma Ventures, a Dubai-based investment firm.
Ugandan Agritech Startup Emata Secures $2.4 Million Seed Funding to Expand Agri-Loan Offerings
Ugandan agritech startup Emata has secured $2.4 million in seed funding to expand its agri-loan offerings across East Africa.