Nigerian startup DrugStoc has raised $4.4 million in Series ‘A’ funding to expand access to quality medicines while providing sustainable supply chain financing for healthcare providers in sub-Saharan Africa.
The funding round is led by Africa HealthCare Master Fund (AAIC). And other investors include Chicago-based venture firm Vested World and the German Development Bank (DEG).
DrugStoc combined the use of unmatched technology, supply chain innovation, financial solutions, and product knowledge to unlock access to medications in emerging Economies.
Today, the company is one of the fastest growing tech enabled procurement partner for Pharmaceutical & Consumer Health companies reaching thousands of Pharmacies, Retailers, Hospitals, Clinics and Medical Practitioners across Nigeria.
DrugStoc has a cloud based, easy to use and internationally accredited pharmaceutical procurment platform that provides access to quality pharmaceutical products at the touch of a button.
The company believes no patient or healthcare provider should lack access to good quality pharmaceuticals. Through technology enabled distribution they are leap frogging the infrastructure, access, supply chain fragmentation, financing and counterfeit drug challenges within the Sub-Saharan pharmaceutical space to improve on the quality of healthcare delivery.
The company, founded by two professionals in the health sector, Chibuzo Opara (CEO) and Adham Yehia (Co-Founder), has powered over nine million prescriptions and projects 12 million by the end of 2021.