Pharmacy Marts, an Egypt-based startup that connects pharmacies with suppliers of medical supplies and cosmetics, has received a six-figure investment from early-stage venture capital firm Acasia Ventures.
The exact amount of funding was not disclosed. Pharmacy Marts has raised $2 million in funding from investors since its launch.
“We are excited to have Acasia Ventures on board,” said Ahmed, CEO and co-founder of Pharmacy Marts. “Given our strong network of experts.” Kadus said.
Founded in 2021, Pharmacy Marts allows pharmacists to access medical products and connect with suppliers. It also provides access to long-term financing, including working capital and “buy now, pay later” options. Pharmacy Marts currently serves around 12,000 Egyptian pharmacies, representing 20% of the total market, and claims to boast over 200 suppliers on its platform. The company says it aims to digitize the supply chain in the pharmaceutical sector and improve access to medicines for patients.
“In a short period of time, Pharmacy Marts has emerged as a category leader in this space and we are confident that it will continue to go from strength to strength,” said Aly El Shalakany, Managing Partner at Acasia Ventures.
