- A Nigerian startup, Remedial Health has raised N415 million to help pharmacies in Nigeria and Africa
- The company said the funding will help them digitize pharmacies across Nigeria and Africa and increase its scheme of buy now, pay later
- the company which was fiunded by Samuel Okwuada Victor Benjamin in 2020 says they want to hel local pharmacies add doctor and diagnostic services
A Nigerian Startup, Remedial Health which provides funding and supply chain management solutions has secured N415 million in pre-seed funding after two years in operation.
This is to help the startup to digitize pharmacies in Nigeria and Africa as well as expand the company’s buy-now-pay-later scheme.
As per Nairametrics story, the investment was led by notable funders like Global Ventures and Ventures Platform and also participation from Ingressive Capital, Voltron Capital, Jobberman’s co-founder, Opeyemi Awoyemi, Angel Syndicate Fund. Other funders also include Flutterwave’s Olugbenga Agboola and Victor Asemota.
The startup is a part of the Winter 2022 cohort of Silicon Valley’s Y Combinator accelerator and intends to solve the supply problems that pharmacies face by ensuring that they secure products when they need them with its online shop that allows pharmacies to order through an app.
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What the startup is saying
According to the company, the pharmacies are less than a 15-minute walking distance from homes of people and, according to the founder, Samuel Okwuada, they want to transform healthcare in Africa by adding diagnostic services, and a doctor to the drug stores in the neighbourhoods.
The firm, Remedial Health operates a 24 hours service and allows drug stores to manage their operations, make and track orders and also stores patients’ medical records and supports reporting and accounting.
About the company
The company was establisbed by Samuel Okwuada and Victor Benjamin in 2o20 as a private label business
It wants to help solve the challenges of inadequacy and inefficiencies which lead to the increase in markets of fake and adulterated products.
The company’s operations spans across six states in Nigeria with plans to increase across West Africa and other African markets by the end of 2022.
It gets medicines from over 100 medical manufactureing companies and suppliers including GSK, Pfizer and AstraZeneca as well as Orange Drugs, Emzor and Fidson Healthcare.
Edcent, a Nigerian fast growing EdTech startup raises N10m pre-seed funding
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Mike Ikenwa, Founder and Chief Executive Officer of Edcent disclosed this to Legit.ng in an exclusive chat.
According to him, the funding will open up exciting next chapter for the Edcent brand as additional features will be added.