7:14:18 AM PDT - Tuesday, October 4th, 2022

Nigeria’s YC-backed Remedial Health raises $4.4M seed funding  

By Editor - Tue Sep 20, 12:27 am

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Early this year, Nigerian health-tech startup Remedial Health announced plans to scale within the West African country digitizing pharmacies and bringing efficiency in the pharmaceutical supply chain after raising seed funding . The YC-backed startup has since February grown its reach from six to 16 states within the populous nation, and plans to cover the remaining 20 as it embarks on a path to deepen its operations across the country. Buoyed by a new $4.4 million equity seed round, Remedial Health is also looking for growth opportunities in East and West Africa. The latest round was led by Global Ventures, the VC firm that co-led its pre-seed round, with participation from Tencent, Y Combinator, Cathexis Ventures, LightSpeed Venture Partners Scout Fund, Ventures Platform, Alumni Ventures and True Capital Management, and a number of angel investors including Guillaume Luccisano and Christopher Golda. CarePoint raises $10M to spread healthcare tech across Africa Founded by Samuel Okwuada (CEO) and Victor Benjamin (COO) in 2020, Remedial Health makes it easy for pharmacies to source pharmaceutical products from major manufacturers and distributors, including GSK, Pfizer and AstraZeneca, as well as Nigeria’s Orange Drugs, Emzor and Fidson Healthcare. By enabling neighborhood pharmacies and hospitals to source from certified merchants, the startup brings in new efficiencies to the pharmaceutical value chains and stems the supply of fake and substandard products. Its inventory financing and loans features helps its clients to increase their basket sizes, and improve their operating efficiencies. Okwuada said that since the beginning of the year, the startup has grown in leaps owing to the uptake of its digital offering, buy-now-pay-later product, and expansion activities.

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Nigeria’s YC-backed Remedial Health raises $4.4M seed funding

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