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 Mohamed, Grinta 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
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