Pharmaceutical platform i’SUPPLY has Secured pre-seed investment of US$1.5 million. The pre-Seed round, which included participation from other investors had Disruptech Ventures served as the round’s lead investor.
The Chief Executive Officer of isupply, Ibrahim Emam, made the following statement: i’SUPPLY’s initial launch is scheduled for the end of 2021, and the company’s ultimate goal is to transform the wholesale distribution of medicines in the MENA region and Africa. This will be accomplished by assisting and empowering pharmacies and wholesalers of medium and small sizes.
i’SUPPLY has ambitious intentions for the money and how it will be used in the future. One of them is to expand its business not only across the country but also into other countries in the Middle East and Africa. This will be done.
Since it first began, i’SUPPLY has seen a great deal of success and has grown significantly in just four months. It has delivered at least 50,000 sales orders from at least 100 wholesalers covering at least 10,000 stock-keeping units (SKUs), and it has signed up 5,000 pharmacies in the Greater Cairo area. It has also reached a gross merchandise volume (GMV) of $2 million in the United States.
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i’SUPPLY pre-seed investment
These achievements demonstrate that we have a deep understanding of the market in addition to a wealth of experience and expertise in the field of pharmaceutical distribution. In addition, the strategic emphasis of i’SUPPLY is congruent with Egypt’s broader shift toward digital transformation methods.
“We at Disruptech couldn’t be more thrilled to be accompanying iSupply on this journey. Strong founders such as Ibrahim and the other members of iSupply’s founding team are constantly backed and supported by our company. We believe that Ibrahim and his team will make a positive impact on the industry through their efforts”. Malek Sultan, Disruptech’s Co-Founder & Partner, said.
Ibrahim Emam, Malek Sultan, and Moustafa Zaki started i’SUPPLY in 2021. The objective is to apply technology at each stage of the supply chain with the intention of re-engineering the pharmaceutical sector.
The i’SUPPLY technology was developed with each of the various stakeholders in mind from the very beginning. The use of intricate algorithms for artificial intelligence was intended to accomplish the goal of making each of their experiences more streamlined.
i’SUPPLY intends to cover the entirety of Egypt within the next year, with a particular emphasis on the country’s 60K pharmacies. In the not-too-distant future, SUPPLY also intends to begin offering services in distribution and financing.
Additionally, preparations are being made for i’SUPPLY’s entry into the African, Middle Eastern, and North African (MENA) markets.
Regarding i’SUPPLY
i’SUPPLY is an Egyptian firm that was established in 1993 and has over 25 years of experience working in the sector of pharmaceutical distribution and healthcare. i’SUPPLY aspires to become a dependable and integrated marketplace for pharmaceuticals that enables and connects pharma businesses with data-driven, disruptive sales, distribution, and procurement solutions to enhance their traditional brick and mortar businesses and provide a one-stop-shop solution that supports the industry’s stakeholders in quickly predicting and overcoming supply chain issues. i’SUPPLY’s mission is to help the industry’s stakeholders quickly predict and overcome supply chain issues.
The team has more than 25 years of experience working in the pharmaceutical industry, and we are passionate about finding new ways to disrupt the market, as well as finding inventive solutions to difficult problems that arise in business.
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About Disruptech Ventures
DisrupTech Ventures is a $25 million venture capital fund created to assist promising early-stage digital services with an emphasis on Egypt’s fintech sector. We focus on seed and late seed funding as well as follow-on successes for early stage capital. We are confident that fintech can help society find marketable answers to its challenges.
A varied group of financial technology experts and business-minded investment professionals with expertise both domestically and abroad created DisrupTech. With a focus on Egypt, DisrupTech was founded to assist early-stage Fintech and Fintech enabled digital services firms.
They are thrilled to encourage business development, widen financial service access, and promote Egypt’s expansion. Using a hands-on strategy from the outset, working alongside talented businesspeople to turn their vision into reality. Being a catalyst for the transformation of Egypt’s bigger financial services ecosystem is one of its key goals.