Lifestores Healthcare, a health technology startup based in Nigeria, has successfully completed a 3 Million Pre-Series A funding round.
Health54 took the lead in the funding round, with support from Aruwa Capital Management and other existing investors.
The funding round had a 50% oversubscription.
OGApharmacy, a B2B pharmaceutical marketplace run by Lifestores Healthcare, offers pharmacies 10–20% group savings, state-of-the-art supply chain tools, and the assurance that the drugs they are selling are genuine and not risky fakes.
Additionally, Lifestores will make use of Health54’s expanding network of health services innovators and providers as well as the current wholesale distribution capabilities of CFAO Healthcare in Nigeria and beyond Africa. With trial projects in patient savings, care management, and pharmaceutical distribution, Lifestores will also broaden its B2C offerings.
Bryan Mezue, co-founder and CEO of Lifestores Healthcare, said, “We’re happy to have Health54 join our objective of democratizing access to high-quality, reasonably priced primary healthcare in sub-Saharan Africa, along with current partners, such as Aruwa Capital and the Lionbear consortium.
Lifestores will unveil new technology features as part of its B2B solutions, including pharmacy management software, AI-driven predictive ordering, improved credit options, and patient management initiatives, in addition to opening a new processing center in Lagos.
Lifestores plans to utilize the funding to expand in Nigeria, enhance its software, and target new customer demographics.
Read more on Tech Gist Africa:
CarePoint, a Ghanaian healthcare startup, has raised a $10 million bridge investment
Remedial Health, a Nigerian healthtech startup, receives $4.4 million in seed funding
Ubenwa, a healthtech startup, has raised $2.5 million in pre-seed funding
