i’SUPPLY closed pre-Series A funding for an exponential ramp-up in its quest to shake up pharmaceutical distribution across Egypt. In this strategy-filled and ambitious go at changing, the company succeeds in capturing somewhat sizable investment; this will instill strong confidence from the investment community in the potential for reshaping the pharmaceutical supply chain.
PC: Sharikat Mubasher
The funding round came at a critical juncture for i’SUPPLY with this cohort of the funding round diversifying its investors and requiring a total capitalization of USD 2.5 million since its inception in 2022. Noted investors that participated in the latest round included Disruptech Ventures, OneStop Capital, Axian Investment CVC, and Egypt Ventures. This heterogeneous pool of investors brings along substantial monetary resources but also valuable knowledge and strategic direction to be imperative as i’SUPPLY scales its operations.
i’SUPPLY is founded to smoothen the pharmaceutical supply chain by developing a strong platform that shall connect more than 10,000 pharmacies with over 200 distribution companies, covering more than 10,000 products. Through the use of technology, i’SUPPLY is keen on addressing some inefficiencies in the current model of distribution and improving the availability and accessibility of pharmaceutical products across Egypt.
According to the company’s CEO, Ibrahim Emam, the commitment remains to serve small and medium-sized pharmacies, which usually suffer from critical funding and working capital problems. To this end, i’SUPPLY says it is going to acquire a license from the Egyptian Financial Regulatory Authority, which will help them offer some competitive financial services for pharmacies at large to find survival easier in running their operations.
The new capital infusion is expected to raise the growth curve of i’SUPPLY, as it would then have the ability and wherewithal to grow its platform and customer reach. The major goals could be enhancing the user experience all across the platform and enhancing the efficiency and user-friendliness of the offering for pharmacies and distribution companies in an optimal way. Additionally, i’SUPPLY will invest in advanced data analytics and artificial intelligence to further manage and forecast stock—reducing costs while improving service delivery.
Further, i’SUPPLY seeks to bring pharmacies and distributors closer for a responsive and more resilient supply chain. This will not only provide the population with a more reliable supply of essential medicines but help in producing better healthcare outcomes for the population.
The confidence expressed by the investors underlines the great potential that i’SUPPLY holds in the market. For example, Abdel Rahman Mansour, CEO of Egypt Ventures, said the investment in i’SUPPLY was strategic in that it was an investment that played a major dual role: solving supply chain inefficiencies and fighting a problem in a critical sector. He commended the i’SUPPLY team for their ingenuity and tireless efforts to create real value in healthcare.
This latest funding round proves that this young startup has had strong performance, along with a robust business model. It also underlines the fact that investment toward innovative healthtech solutions transforming complex challenges in emerging markets is growing.
With the pre-Series A funding now closed, i’SUPPLY has invested in its vision of digitally transforming the pharmaceutical distribution landscape in Egypt. This new capital and strategic backing from an array of investors offer an excellent chance for the company to further scale its operations, improve the platform, and deliver its mission of a pharmaceutical supply chain that is more efficient and more accessible. In its growth, i’SUPPLY will continue to realize its potential for making effective changes in access to essential medicines and sustainability for small- and medium-sized pharmacies across the country.
