Grace Ashiru
Grinta, a digital pharmacy platform based in Cairo, has closed an $8 million seed round headed by Raed Ventures and Nclude.
Grinta, established in 2021 by Mohamed Azab, Yosra Badr, Ali Youssef, and Hamza Mohamed, is a fintech-enabled B2B software platform that digitizes the pharmaceutical supply chain.
The Grinta platform gives pharmacies access to a wide range of trackable pharmaceutical and medical products from several vendors. It also helps with inventory financing, demand planning, and fulfillment.
The startup primarily works with manufacturers, distributors, wholesalers, and pharmacies to build a reliable, efficient, and data-driven pharmaceutical supply chain.
Egypt is the largest pharmaceutical market in Africa, with a size of more than USD 6 billion. It has strong local manufacturers, three large distributors, and more than 3,000 wholesalers who all sell to 60,000 small pharmacies that still need to be digitized..
The startup said in a statement that the money would be used to scale Grinta’s full-stack tech platform, grow its team, and speed up its growth in the Egyptian market.
Other participants in the round include Silicon Valley-based Endeavor Catalyst and 500 Global, bringing the company’s total capital to $9.5 million.
