Acasia Ventures leads six-figure funding in Egypt-based well being tech Pharmacy Marts

Acasia Ventures leads six-figure funding in Egypt-based well being tech Pharmacy Marts

Pharmacy Marts, an Egypt-based startup that connects pharmacies and suppliers for medical provides and cosmetics, has obtained a six-figure funding from early-stage enterprise capital agency Acasia Ventures.

The precise funding quantity was not disclosed. Pharmacy Marts raised  $2 million in funding from traders since its launch.

“We’re enthusiastic about having Acasia Ventures on board, given its nice presence in African markets that we’re planning to enter, in addition to their strong community of advisors and consultants within the pharmaceutical trade,” CEO and Co-Founding father of Pharmacy Marts Ahmed Kadous mentioned.

Based in 2021, Pharmacy Marts permits pharmacists to entry medical merchandise and join them with suppliers. It additionally offers entry to working capital and long-term financing, together with “Purchase Now, Pay Later” choices. Pharmacy Marts claims it presently companies about 12,000 of Egypt’s pharmacies, equal to twenty% of the whole market, and boasts over 200 suppliers on its platform. The startup says it goals to digitize the pharmaceutical sector’s provide chain to enhance affected person entry to medicine.

“In a brief interval, Pharmacy Marts has emerged as a class chief on this area and we’re assured it’ll proceed to go from energy to energy,” Managing Accomplice at Acasia Ventures Aly El Shalakany mentioned.

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