Egypt’s Pharma Startup i’Supply Raises $1.5 Million in Pre-Seed Round
i’Supply is looking to empower small-scale pharma-suppliers across the region…
Egypt’s tech-enabled pharma marketplace, has raised $1.5 million in a pre-Seed round led by Disruptech Ventures in addition to other investors.
Founded in 2021, i’Supply aims to connect small to midsize pharmacies with wholesalers and pharma companies, providing seamless connections to the sector’s supply chain.
“With an initial launch late 2021, i’SUPPLY aims to transform the medicine wholesale distribution in MENA region and Africa by focusing on supporting and empowering the mid and small-sized wholesalers and pharmacies,” said Ibrahim Emam, CEO of i’SUPPLY. “The company is building a reliable and integrated network which enhances and augments traditional brick and mortar platforms with data-driven disruptive sales, distribution, and procurement solutions that optimize the procurement processes and provide a one-stop-shop solution that supports industry’s stakeholders to quickly predict and overcome supply chain disruptions.”
Since its launch, i’Supply has reached $2 million GMV and has onboarded 5,000 pharmacies in Greater Cairo alone, according to the startup. The new funding will enable i’Supply to expand across Egypt and onboard 60k more pharmacies to its marketplace within the next 12 months. The startup also plans to expand to other countries in the MENA region and across Africa in the near future.
Egyptian startups raised $269.1 million during the first half of the year, according to data platform Magnitt. While e-commerce and fintech were the most funded industries, health tech also attracted significant funding this year. Some startups driving growth in Egypt’s health tech sector include DOXX, raising $1.5 million Seed funding and Esaal, also raising $1.7 million in Seed funding.