Lifestores Healthcare closes $3M pre-series A round led by Health54
Summary
The round, which was oversubscribed by 50%, marks the first investment for Health54, the corporate venture arm of CFAO Group, which is the largest healthcare distribution channel in sub-Saharan Africa. Lifestores operates an online B2B pharmaceutical marketplace, OGApharmacy, which provides pharmacies with 1020% group discounts, cutting-edge supply chain software, and the confidence that medications are authentic and not dangerous counterfeits. Additionally, Lifestores will leverage CFAO Healthcares existing wholesale distribution capabilities in Nigeria and across Africa as well as Health54s increasing network of health services innovators and providers. We aim to support pharmacists, the unsung heroes of African healthcare, with the critical services they need to procure and provide safe and affordable medications to their patients.Our scope goes beyond merely distributing medicines and stabilizing prices. Health54 is committed to promote innovative solutions and to act a business partner leveraging the largest African healthcare network to support its investees scaling up.Were proud and happy to make our first investment with Health54 in Nigeria and in Lifestores.