Egyptian pharmaceutical distribution startup i’SUPPLY has raised a pre-Series A funding round, bringing its total funding since its founding in 2022 to US$2.5 million.
Some of the notable investment funds that participated in this undisclosed funding round include Disruptech Ventures, OneStop Capital, Axian Investment CVC and Egypt Ventures, bringing the total funding to US$2.5 million.
i’SUPPLY has developed a technologically advanced platform that connects over 10,000 pharmacies and over 200 small and medium-sized distributors, offering a portfolio of over 10,000 medicines.
“This investment marks a major step forward for our company, accelerating our growth strategy and transforming our capabilities to support small and medium-sized pharmacies. We now aim even higher and seek to obtain a license from the Egyptian Financial Regulatory Authority to address the changing financing needs of small and medium-sized pharmacies. Meeting the growing market demand for capital and focusing on solving the working capital gap for pharmacies and small distributors is at the core of our mission,” said Ibrahim Emam, CEO and co-founder of i’SUPPLY.
Abdel Rahman Mansour, CEO of Egypt Ventures, said he is excited about the opportunity to work with i’SUPPLY and support the company’s future growth initiatives.
“I am confident that i’SUPPLY’s innovative, fully digitized platform will continue to have a profound impact on the industry, driving efficiencies and closing gaps across the pharmaceutical supply chain. The team has demonstrated resourcefulness and strategic thinking, which I believe will be critical to i’SUPPLY’s success,” Mansoor said.
The startup plans to use the funds to strengthen its capabilities and support its expansion plans after obtaining the necessary licenses.
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