Remedial Health has raised $4.4 million in seed funding, a health-tech startup that creates solutions to improve the effectiveness of Africa’s pharmaceutical value chain.
Global Ventures led the seed round of funding.
In addition to Tencent, Y Combinator, Cathexis Ventures, LightSpeed Venture Partners Scout Fund, Ventures Platform, Alumni Ventures, and True Capital Management, notable angel investors Guillaume Luccisano and Christopher Golda also participated in the round.
For local pharmacies, PPMVs, and hospitals to access economical and reliable retail medications, Remedial Health offers a variety of solutions, including its digital procurement and PMR (patient medication records) systems. With 24-hour delivery to their practice through Remedial Health’s logistics network, healthcare professionals can acquire validated drugs at prices that are comparable to or better than open-air medicine market prices.
“The funds that we have raised and the strategic support from our investors will enable us to deliver the solutions to address various challenges that have hampered these businesses’ growth for many years, and make it easier to safeguard lives and livelihoods across the continent for years to come,” says Samuel Okwuada, CEO and co-founder of Remedial Health.
Neighborhood pharmacies, PPMVs, and hospitals can increase profits through group/bulk purchasing discounts, time savings and streamlined operations, access to finance, and the provision of financial and other basic healthcare services by utilizing the Remedial Health platform.
With the help of this most recent funding, the company intends to hasten its expansion throughout Nigeria.
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