i’Supply closes undisclosed pre-Series A round

Cairo - Sharikat Mubasher: i’Supply, the leading digital platform in pharmaceutical distribution based in Cairo, successfully closed an undisclosed pre-Series A round, raising its total funding to $2.5 million, according to the company’s recent statement.

Several prominent investment funds, including Disruptech Ventures, OneStop Capital, Axian Investment CVC, and Egypt Ventures, participated in the round

This fund will accelerate the company’s expansion plans and enhance its capabilities in financing small and medium-sized pharmacies upon obtaining the required license.

i’Supply will also utilize the funds to enhance its fintech offerings and advance technological services to all stakeholders in the pharmaceutical supply chain.

Ibrahim Emam, CEO and Co-Founder of i’Supply, stated that the investment round represents a leap forward for the company as it accelerates i’Supply’s growth strategy and revolutionizes its ability to empower small and medium-sized pharmacies.

“Our sights are set even higher as we strive to obtain a license from the Egyptian Financial Regulatory Authority to meet the evolving financing needs of small and medium-sized pharmacies,” Emam said.

He emphasized i’Supply’s commitment to meeting the growing market demand for funding and addressing working capital shortages among pharmacies and small distributors.

Meanwhile, Abdel Rahman Mansour, CEO of Egypt Ventures, commented: “We are confident that i’Supply’s innovative and fully digital platform will continue to significantly impact and develop the industry, by enhancing efficiencies and filling in gaps along the entire pharmaceutical supply chain.”

i’Supply’s integrated network serves over 10,000 pharmacies and collaborates with more than 200 distribution companies, offering a portfolio of over 10,000 pharmaceutical products.

Contribution Time: 11-Jun-2024 10:53 (GMT)
Last Update Time: 11-Jun-2024 11:02 (GMT)