Egypt: Pharma distribution platform raises funding
i’SUPPLY has secured its pre-Series A funding round, bringing the company’s total funding to $2.5 million.
i’SUPPLY, a digital platform for the distribution of pharmaceuticals, has secured its pre-Series A funding round, bringing the company’s total funding to $2.5 million since its inception in 2022. The funding round saw participation from several investment firms, including Disruptech Ventures, OneStop Capital, Axian Investment CVC and Egypt Ventures, among others.
In Egypt’s pharmaceutical market, i’SUPPLY supports pharmacies and distribution companies through its tech-enabled platform. Since its launch, the company has achieved an annual transaction volume estimated at EGP 1 billion (c. $21 million) and processes over one million purchase orders annually. The company’s network now serves over 10,000 pharmacies and collaborates with more than 200 distribution companies, offering a portfolio of over 10,000 pharmaceutical products.
Ibrahim Emam, CEO and co-founder of i’SUPPLY, stated, “This investment marks a leap forward for us, as it accelerates our growth strategy and revolutionises our ability to empower small and medium-sized pharmacies. Our sights are set even higher as we strive to obtain a licence from the Egyptian Financial Regulatory Authority to meet the evolving financing needs of small and medium-sized pharmacies. Our unwavering commitment to meeting the escalating market demand for funding, addressing working capital shortages among pharmacies and small distributors, remains at the core of our mission.”
Abdel Rahman Mansour, CEO of Egypt Ventures, added, “We are thrilled to partner with i’SUPPLY and support its future expansion plans. We are confident that i’SUPPLY’s innovative and fully digital platform will continue to significantly impact and develop the industry, by enhancing efficiencies and filling in gaps along the entire pharmaceutical supply chain. The team has proven to be highly resourceful and strategic and we believe this will be the key to i’SUPPLY’s success.”
Malek Sultan, co-founder and partner at DisrupTech Ventures, added: “We are thrilled to continue our support for i'SUPPLY, as we firmly believe in their mission and the positive impact they have created in bridging the gap between pharmacies and distributors. The financing of pharmacies has been a crucial and much-needed offering in the Egyptian market, and we fully support their endeavor to obtain the FRA license. We are confident that i'SUPPLY will continue to revolutionise the industry and drive meaningful change in the healthcare ecosystem.”
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