i’SUPPLY, an innovative digital platform in pharmaceutical distribution based in Egypt, has successfully completed its pre-Series A funding round. This latest investment boosts the company’s total funding to $2.5 million since it was founded in 2022. The round was led by Disruptech Ventures and included contributions from OneStop Capital, Axian Investment CVC, Egypt Ventures, and other investors.
Founded by Ibrahim Emam, Malek Sultan, and Moustafa Zaki, i’SUPPLY is on a mission to modernize the pharmaceutical industry.
The platform offers a comprehensive solution designed to tackle supply chain disruptions and streamline operations for pharmacies and distribution companies.
The new funding will help i’SUPPLY expand its services and enhance its ability to finance small and medium-sized pharmacies. It will also support the company’s efforts to improve its fintech offerings and advance its technological capabilities.
In 2022, i’SUPPLY raised $1.5 million in a pre-seed round, also led by Disruptech Ventures. Since then, the company has made impressive strides. It handles over EGP 1 billion in annual transactions and processes more than one million purchase orders each year. With a network of over 10,000 pharmacies and 200 distribution companies, i’SUPPLY offers a diverse range of over 10,000 pharmaceutical products. Notably, from January to May 2024, the company saw a fivefold increase in transactions and revenue compared to the same period in 2023.
Ibrahim Emam, CEO and Co-Founder of i’SUPPLY, shared his enthusiasm about the new investment: “This funding is a significant step forward for us. It accelerates our growth and enhances our ability to support small and medium-sized pharmacies. We are also working towards obtaining a license from the Egyptian Financial Regulatory Authority to better address the financing needs of these pharmacies. Our goal is to tackle the market demand for funding and address the working capital shortages faced by pharmacies and small distributors.”
Abdel Rahman Mansour, CEO of Egypt Ventures, expressed excitement about the partnership: “We are thrilled to support i’SUPPLY’s expansion. Their digital platform is set to make a substantial impact by improving efficiencies and bridging gaps in the pharmaceutical supply chain. The team’s resourcefulness and strategic approach are key to their success.”
Malek Sultan of Disruptech Ventures, a returning investor, affirmed their continued support: “We are excited to back i’SUPPLY again. Their efforts to bridge the gap between pharmacies and distributors have been crucial for the Egyptian market. We fully support their aim to obtain the FRA license and are confident in their ability to drive change in the healthcare sector.”
i’SUPPLY’s swift path to profitability, achieved in under 18 months, highlights its efficient operations and smart capital management. The new funding will support the company’s growth and further enhance its services for pharmacies and other stakeholders across the pharmaceutical supply chain, from manufacturers to hospitals.
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