i‘SUPPLY raises $1.5 million pre-Seed round
Summary
Egypt-based B2B pharma platform iSUPPLY has raised a $1.5 million pre-Seed round, led by Disruptech Ventures among other investors. Founded in 2021 by Ibrahim Emam, Malek Sultan and Moustafa Zaki, iSUPPLY aims to digitise the pharmaceutical business by providing a one-stop-shop solution to quickly predict and overcome supply chain disruptions. iSUPPLY plans to use the new proceedings to expand across the country and into other countries in the Middle East and Africa region.iSUPPLY, MENAs first tech-enabled distribution marketplace set to connect pharma businesses and financing the small/medium wholesalers and pharmacies raised a total of $1.5 million in its pre-Seed round, the pre-Seed round was led by Disruptech Ventures among other investors.With an initial launch late in 2021, iSUPPLY aims to transform the medicine wholesale distribution in the MENA region and Africa by focusing on supporting and empowering the mid and small-sized wholesalers and pharmacies, said Ibrahim Emam, CEO of iSUPPLY. Using the accumulation of 20 years of experience in formulating, shaping, and leading business and commercial strategies as a Chief Strategy & Commercial Officer at a leading pharmaceutical distribution company in Egypt, Emam is keen on delivering the value and industry-changing features the platform promises as it seamlessly connects different parts of the supply chain.Emam elaborated that iSUPPLY vision is to re-engineer the pharmaceutical industry by integrating technological solutions at all supply chain stages saying, The company is building a reliable and integrated network which enhances and augments traditional brick and mortar platforms with data-driven disruptive sales, distribution, and procurement solutions that optimize the procurement processes and provide a one-stop-shop solution that supports industrys stakeholders to quickly predict and overcome supply chain disruptionsWorking towards that vision, iSUPPLY has seen exponential success and hyper growth in just 4 months since the launch, reaching $2M GMV, delivering 50K+ sales orders from 100+ Wholesaler covering 10K+ SKUs, having 5K pharmacies onboarded in Great Cairo over this short period of time, demonstrating the solid understanding of the market and our extensive expertise and capabilities in the pharmaceutical distribution sector.Moreover, iSUPPLYs strategic focus comes in line with Egypt moving forward with digital transformation tactics across the board, looking to allocate 7.7% of its GDP derived through artificial intelligence by 2030, as mentioned in a report titled The Potential Impact of AI in the Middle and published by PWC. The goal of our technical team is to provide our users with the most personalized experience possible using AI engines backed by data sources fully integrated with all systems in the market.Finally, over the upcoming 12 months, iSUPPLY is planning on covering all of Egypt, targeting 60K pharmacies.
Funding
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