Grace Ashiru
i’SUPPLY, an Egyptian pharmaceutical distribution startup, has raised a pre-Series A funding round, bringing its total funding to US$2.5 million since its launch in 2022.
Disruptech Ventures, OneStop Capital, Axian Investment CVC, and Egypt Ventures were among the notable investment funds that participated in this undisclosed funding round, which increased the total funding to US$2.5 million.
i’SUPPLY has developed a technologically advanced platform that offers a portfolio of over 10,000 pharmaceutical products by connecting more than 10,000 pharmacies with over 200 small-to-medium-sized distribution companies.
This investment represents a significant advancement for us, accelerating our growth strategy and transforming our ability to empower small and medium-sized pharmacies. We aim even higher, seeking to obtain a license from the Egyptian Financial Regulatory Authority to address the evolving financing needs of small and medium-sized pharmacies. Our dedication to meeting the increasing market demand for funding and resolving working capital shortages among pharmacies and small distributors is at the heart of our mission,” said Ibrahim Emam, CEO and co-founder of i’SUPPLY.
Abdel Rahman Mansour, CEO of Egypt Ventures, shared his excitement about the opportunity to collaborate with i’SUPPLY and support its future growth initiatives.
“We are confident that i’SUPPLY’s innovative and fully digital platform will continue to make a significant impact on the industry, enhancing efficiencies and addressing gaps throughout the pharmaceutical supply chain. The team has demonstrated resourcefulness and strategic thinking, which we believe will be crucial to i’SUPPLY’s success,” said Mansour.
The startup will use the funding to enhance its capabilities and support its expansion plans once it has obtained the necessary license.
