- i‘SUPPLY, Egypt’s first tech-enabled pharmaceuticals’ distribution marketplace financing SMEs in the MENA region, has raised a total of $1.50 million in its pre-seed round led by Disruptech Ventures, among other investors.
Over the coming 12 months, i‘SUPPLY plans to cover all of Egypt, targeting 60K pharmacies, and launch distribution and financing services. In addition, it eyes to expand its footprint across Africa and the MENA region, according to a recent press release.
Commenting on this, CEO of i’SUPPLY, Ibrahim Emam, said: “With an initial launch late in 2021, i’SUPPLY aims to transform the medicine wholesale distribution in MENA region and Africa by focusing on supporting and empowering the mid and small-sized wholesalers and pharmacies.”
i’SUPPLY seeks to re-engineer the pharmaceutical industry by integrating technological solutions at all supply chain stages.
Working towards that vision, i’SUPPLY has seen exponential growth in just 4 months since its inception, recording gross merchandise value (GMV) worth $2 million, delivering 50K+ sales orders from 100+ wholesaler covering 10K+ SKUs, having 5K pharmacies onboarded in Great Cairo, demonstrating the solid understanding of the market.
i’SUPPLY was established in 2021 by Ibrahim Emam, Malek Sultan, and Moustafa Zaki, and its mission is to re-engineer the pharmaceutical industry by integrating technological solutions at all stages of the supply chain.
The technology that underpins i’SUPPLY was developed with the many stakeholders in mind, with the goal of providing each of them with a streamlined experience through the use of sophisticated artificial intelligence algorithms.
i’SUPPLY intends to cover the entirety of Egypt over the course of the next year, with a particular focus on the country’s 60K pharmacies. i’SUPPLY also intends to start offering distribution and finance services in the near future.
In addition, i’SUPPLY is making preparations to extend its geographical presence to include Africa and the MENA Region.