i’SUPPLY, an Egyptian pharmaceutical distribution startup, has secured a pre-Series A funding round, bringing its total funding to US$2.5 million since its inception in 2022.
Disruptech Ventures, OneStop Capital, Axian Investment CVC, and Egypt Ventures were among the prominent investment funds that participated in the undisclosed funding round, which increased the total funding to US$2.5 million.
i’SUPPLY has created a technologically advanced platform that provides a portfolio of over 10,000 pharmaceutical products by connecting over 10,000 pharmacies with more than 200 small-to-medium-sized distribution companies.
“This investment marks a leap forward for us, as it accelerates our growth strategy and revolutionizes our ability to empower small and medium-sized pharmacies. Our sights are set even higher as we strive to obtain a license 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, and addressing working capital shortages among pharmacies and small distributors, remains at the core of our mission,” said Ibrahim Emam, CEO and co-founder of i’SUPPLY.
Abdel Rahman Mansour, CEO of Egypt Ventures, expressed his enthusiasm for the opportunity to collaborate with i’SUPPLY and provide support for its future growth initiatives.
“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,” said Mansour.
The startup will utilize the funding to improve its capabilities and support its expansion plans once it has obtained the necessary license.
Read more on Tech Gist Africa:
Sahl, an Egyptian utility payment startup, has secured $6 million in funding
Birdnest, an Egyptian proptech startup, has raised pre-Series A funding
OneOrder, an Egyptian startup, has secured $16 million in a Series A funding round
Comments 1