Egypt’s healthtech i‘SUPPLY raises pre-Series A funding support expansion plans

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June 11, 2024
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2 min read
i’Supply
  • i'SUPPLY, an Egypt-based B2B healthtech company, has raised a pre-Series A funding round to support its expansion plans, strengthen its ability to finance small and medium-sized pharmacies and improve its fintech and technological offerings.
  • Although the amount has not been disclosed, Disruptech Ventures led the funding round, including OneStop Capital, Axian Investment CVC, Egypt Ventures, and several other investors.
  • This development comes nearly two years after the company raised $1.5 million in a pre-seed round led by Disruptech Ventures. 

Ibrahim Emam, CEO and Co-Founder of i'SUPPLY stated that the investment will accelerate the company's growth strategy and revolutionise its ability to empower small and medium-sized pharmacies.

He also stated that the company plans to obtain a licence from the Egyptian Financial Regulatory Authority to meet the financing needs of small and medium-sized pharmacies. 

“Our unwavering commitment to meeting the escalating market demand for funding, addressing working capital shortages among pharmacies and small distributors, remains at the core of our mission,” he shared. 

Malek Sultan, Co-Founder and Partner at DisrupTech Ventures, states that financing pharmacies has been a critical and much-needed offering in the Egyptian market. 

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Founded in 2022 by Ibrahim Emam, Sultan, and Moustafa Zaki, i'SUPPLY aims to digitise the pharmaceutical industry by providing a comprehensive solution for quickly anticipating and overcoming supply chain disruptions.

The company provides a comprehensive platform for digitising and optimising supply and demand transactions among drug manufacturers, distributors, wholesalers, and pharmacies.

Since its inception, the company has reportedly generated an annual transaction volume of EGP 1 billion ($20.9 million) and processed over one million purchase orders. Its integrated network serves over 10,000 pharmacies and collaborates with over 200 distribution companies, providing a portfolio of over 10,000 pharmaceuticals. 

On June 7, 2024, the Egypt Health Care Authority announced partnerships with international sponsors to mechanise and digitally transform services and revenue cycle management in its healthcare facilities. 

Egypt's pharmaceutical industry is expected to generate $1.45 million in revenue in 2024, with a 7.68% compound annual growth rate (CAGR 2024-2028), resulting in a market volume of $1,948 million by 2028.

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Meanwhile, the country's digital health market is expected to grow from $0.59 billion in 2022 to $2.56 billion by 2030, at a CAGR of 20.1% between 2022 and 2030.


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