i’SUPPLY, an Egyptian healthtech startup, has raised pre-Series A funding to accelerate its growth and support expansion plans. Ibrahim Emam, CEO and Co-Founder of i’SUPPLY, announced that this investment will significantly enhance the company’s capacity to empower small and medium-sized pharmacies.
Emam also revealed that i’SUPPLY intends to obtain a license from the Egyptian Financial Regulatory Authority to better meet the financing needs of these pharmacies. “Our unwavering commitment to meeting the escalating market demand for funding and addressing working capital shortages among pharmacies and small distributors remains at the core of our mission,” he stated.
Malek Sultan, Co-Founder and Partner at DisrupTech Ventures, emphasized the critical need for financing solutions for pharmacies in the Egyptian market.
Founded in 2022 by Ibrahim Emam, Malek Sultan, and Moustafa Zaki, i’SUPPLY aims to digitize the pharmaceutical industry by offering a comprehensive solution to anticipate and mitigate supply chain disruptions. The company’s platform optimizes supply and demand transactions among drug manufacturers, distributors, wholesalers, and pharmacies.
Since its launch, i’SUPPLY has achieved an annual transaction volume of EGP 1 billion ($20.9 million) and processed over one million purchase orders. Its extensive network serves over 10,000 pharmacies and collaborates with more than 200 distribution companies, offering a portfolio of over 10,000 pharmaceuticals.
On June 7, 2024, the Egypt Health Care Authority announced partnerships with international sponsors to digitize and transform services and revenue cycle management in its healthcare facilities.
Egypt’s pharmaceutical industry is projected to generate $1.45 million in revenue in 2024, with a 7.68% compound annual growth rate (CAGR) from 2024 to 2028, leading to a market volume of $1.948 million by 2028.
