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    HomeEcosystem NewsEgypt’s i’SUPPLY Secures Pre-Series A Funding, Totaling $2.5 Million Raised

    Egypt’s i’SUPPLY Secures Pre-Series A Funding, Totaling $2.5 Million Raised

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    i’SUPPLY, a leading Egyptian B2B medtech platform specializing in pharmaceutical distribution, has successfully closed a pre-Series A funding round, accumulating a total of $2.5 million in investments since its establishment in 2022. The round saw participation from a consortium of investors including Disruptech Ventures, OneStop Capital, Axian Investment CVC, and Egypt Ventures.

    Founded in 2022 by Ibrahim Emam, Malek Sultan, and Moustafa Zaki, i’SUPPLY’s mission is to digitize the pharmaceutical sector, providing a comprehensive platform to anticipate and address supply chain challenges. With an annual transaction volume of approximately EGP 1 billion and over one million purchase orders processed annually, i’SUPPLY has quickly become a significant player in the Egyptian market. Its integrated network connects over 10,000 pharmacies with more than 200 distribution companies, offering access to over 10,000 pharmaceutical products.

    The company has experienced remarkable growth, reporting a fivefold increase in both transactions and revenue from January to May 2024 compared to the same period in 2023. This funding round is expected to further propel i’SUPPLY’s expansion efforts, with a focus on providing financing solutions to small and medium-sized pharmacies.

    Ibrahim Emam, CEO and Co-Founder of i’SUPPLY, emphasized the importance of this investment in accelerating the company’s growth strategy and revolutionizing its ability to empower smaller pharmacies. He also highlighted the company’s ongoing efforts to obtain a license from the Egyptian Financial Regulatory Authority (FRA) to address the growing financing needs of this segment.

    Abdel Rahman Mansour, CEO of Egypt Ventures, expressed enthusiasm for partnering with i’SUPPLY and supporting its future expansion. He emphasized the platform’s potential to impact and develop the industry by enhancing efficiencies and filling gaps across the entire pharmaceutical supply chain.

    Ramzy Mohamed, Co-Founder and Partner at DisrupTech Ventures and a returning investor, reaffirmed the fund’s belief in i’SUPPLY’s mission. He specifically acknowledged the critical role i’SUPPLY has played in bridging the gap between pharmacies and distributors, particularly through its financing offerings.

    Having achieved profitability in under 18 months, i’SUPPLY has demonstrated operational efficiency and effective capital management. This pre-Series A round will be instrumental in expanding the company’s fintech offerings and further developing its technological services for all stakeholders in the pharmaceutical supply chain, from manufacturers and distributors to pharmacies and hospitals.

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