Pharmacy Marts Receives Funding Boost from Acasia Ventures
The six-figure bridge round aims to support Pharmacy Marts' digitization of the pharmaceutical supply chain in Egypt.
Cairo-based digital marketplace Pharmacy Marts has secured a significant investment from early-stage venture capital firm Acasia Ventures. The six-figure bridge round aims to support Pharmacy Marts' mission of digitizing the pharmaceutical supply chain in Egypt to enhance patient access to medication.[1]
Pharmacy Marts addresses the current challenges in the pharmaceutical sector, where manual stock monitoring and fragmented connections between stakeholders lead to delays in medication delivery. With over 12,000 pharmacies already onboard, covering 20% of Egypt's market, Pharmacy Marts offers a platform for pharmacists to efficiently manage inventory, connect with suppliers, and streamline ordering processes.
The company's platform includes features like real-time product availability, supplier comparison, and flexible payment options, such as buy now, pay later (BNPL).
Founded in 2021 by Ahmed Kadous, Ahmed Mazhar, Haitham El Ghotni, and Mahmoud Shousha, Pharmacy Marts has attracted investments totaling $2 million from local, regional, and global venture capitalists.