Acquisition

Egyptian Pharma Startup Grinta Bolsters Footprint and Ignites Innovation with Acquisition of Counterpart Auto-Cure

Cairo-based startup Grinta, a fintech-enabled B2B tech platform digitising the pharmaceutical supply chain, has acquired Alexandria-based online pharmacy Auto-Cure to expand its footprint in the country.

Founded in 2021 by Mohamed Azab, Yosra Badr, Ali Youssef, and Hamza MohamedGrinta is a managed marketplace that modernises the pharmaceutical supply chain by empowering independent pharmacies. The end-to-end platform provides access to the full spectrum of traceable pharmaceutical and medical products from multiple vendors in addition to providing fulfillment, demand planning, and inventory financing. 

The company is working with all stakeholders across the value chain, manufacturers, distributors, wholesalers, and pharmacies, to build a data-driven, reliable, and efficient pharmaceutical supply chain.

Grinta raised a US$8 million seed round late last year, and has now acquired Auto-Cure, a B2B e-commerce platform founded last year that serves independent pharmacists in Alexandria. 

“The acquisition of Auto-Cure is a testament to Grinta’s dedication to delivering value to their clients and growing its presence in the Egyptian market,” said Grinta CEO Mohamed Azab.

Since inception in 2021, Grinta has acquired two other companies – PH Store, a similar digital platform in northern Egypt, and EME, a software development company. As a result, the company has expanded aggressively across nine governorates across Egypt. It has served over 7,000 pharmacies since then and delivered over 200,000 orders.    

“Joining hands with Grinta is incredibly exciting for us, our commitment to digitising the market and delivering customer satisfaction has led us to joining Grinta’s brilliant team. We have unlocked a world of possibilities, and together we will be extending our reach not only in Alexandria but throughout the Middle East and Africa,” said Mohamed Rezk, founder and CEO of Auto-Cure.

Auto-Cure has dispatched 5,000 orders and served 450 pharmacies over the past 18 months.

Source: Disrupt Africa

Checkout Investor Finder by GetFundedAfrica

Investor Finder, by GetFundedAfrica, is your ultimate solution for finding investors and securing venture capital funding for your business. With Investor Finder, you can significantly increase your chances of long-term growth by expanding your investor network. 

Key Features: 

How It Works:

Investor Finder operates through three simple steps: 

Sign up: Get started by signing up for a free trial. No credit card is required for the trial period. 

Find Investors: Use powerful AI algorithms to discover potential investors that align with your business goals and objectives. 

Manage and Engage: Once you’ve identified suitable investors, connect and interact with them directly through the platform. Manage your relationships and track your progress towards securing funding. 

Pricing: Investor Finder offers a free trial with limited access to investors. For detailed pricing information and to explore the full features, please visit the GetFundedAfrica website or contact their sales team. 

It’s time to accelerate your fundraising journey and propel your business forward. Sign up now for a free trial of Investor Finder. No credit card is required! Don’t wait; seize this opportunity and unlock the path to success. 

Click here to get started and revolutionise your investor network: www.getfundedafrica.com/investor-finder 

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button