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Egypt’s i’SUPPLY raises pre-Series A funding round

June 11, 2024
iSUPPLY closes pre-Series A round

i'SUPPLY, the mobile-enabled platform in pharmaceutical distribution, has successfully secured its pre-Series A funding round, bringing the company's total funding to $2.5 million.

The company supports pharmacies and small to medium-sized distribution companies through its tech-enabled platform.

Since its launch, i'SUPPLY has achieved an annual transaction volume estimated at EGP 1 billion and processes over one million purchase orders annually. The company's network now serves more than 10,000 pharmacies and collaborates with more than 200 distribution companies — offering a portfolio of over 10,000 pharmaceutical products.

From January to May 2024, i'SUPPLY saw a fivefold increase in transactions and revenue compared to the same period in 2023.

Funding 💰

Round $1M
Pre-Series A
Investors Disruptech Ventures, OneStop Capital, Axian Investment CVC, Egypt Ventures

Quotes 💬

“
This investment marks a leap forward for us, as it accelerates our growth strategy and revolutionizes our 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. Our unwavering commitment to meeting the escalating market demand for funding, addressing working capital shortages among pharmacies and small distributors, remains at the core of our mission.
— Ibrahim Emam, CEO and Co-Founder of i'SUPPLY
“
We are thrilled to partner with i'SUPPLY and support its future expansion plans. 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. The team has proven to be highly resourceful and strategic and we believe this will be the key to i'SUPPLY's success.
— Abdel Rahman Mansour, CEO of Egypt Ventures
“
We are thrilled to continue our support for i'SUPPLY, as we firmly believe in their mission and the positive impact they have created in bridging the gap between pharmacies and distributors. The financing of pharmacies has been a crucial and much-needed offering in the Egyptian market, and we fully support their endeavor to obtain the FRA license. We are confident that i'SUPPLY will continue to revolutionize the industry and drive meaningful change in the healthcare ecosystem.
— Malek Sultan, Co-Founder and Partner at DisrupTech Ventures

About 🏢

i'SUPPLY operates an AI-powered, mobile-enabled marketplace for pharmaceuticals, enabling and connecting pharmaceutical businesses to enhance and augment their traditional brick-and-mortar platforms with data-driven disruptive sales, distribution, and procurement solutions. The platform optimizes procurement processes and provides a one-stop-shop solution that supports industry stakeholders in quickly predicting and overcoming supply chain disruptions. For some of its customers, i'SUPPLY also offers convenient access to credit working capital. more
source

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