The Cairo-based B2B digital marketplace aims to facilitate connections between pharmacies and medical suppliers.
Egyptian health tech startup Pharmacy Marts has secured a six-figure bridge round led by Acasia Ventures.
Founded in 2021 by Ahmed Kadous, Ahmed Mazhar, Haitham El Ghotni, and Mahmoud Shousha, Pharmacy Marts operates as a B2B digital marketplace that facilitates connections between pharmacies and medical suppliers. Their platform aims to simplify the process of accessing medicines, medical supplies and cosmetics in order to streamline Egypt's pharmaceutical supply chain. The company claims to have captured 20% of the Egyptian market and currently has over 200 suppliers participating. Since its inception, Pharmacy Marts has attracted a total of $2 million in investment.
According to Pharmacy Marts, Egyptian pharmacists typically spend 30% of their time manually monitoring inventory and checking product availability and prices. This manual process often leads to delays in drug delivery, which is further exacerbated by departmental fragmentation. Although he has 60,000 pharmacies in Egypt, offering his 7,000 types of products from 3,000 suppliers, industry connections remain rudimentary and rely heavily on manual methods and telephone communication. I am.
“Pharmacy Marts' solid team has an impressive track record of successfully delivering compelling digital solutions that alleviate major pain points for thousands of pharmacies and, indirectly, for millions of patients.” Acasia Aly El Shalakany, Managing Partner at Ventures, told StartupScene. “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.”
Pharmacy Marts helps pharmacists achieve these goals by providing an online platform where pharmacists can search for products, find suppliers, get quotes, place orders, choose a payment method, and receive delivery within 24 hours. It aims to address inefficiencies. The platform offers working capital and long-term financing options, including a “buy now, pay later” option, with the aim of helping pharmacists secure suitable financing terms from wholesalers.
