Cairo-based Grinta, a digital pharmacy platform, has closed an $8 million seed spherical co-led by Raed Ventures and Nclude.
- Based in 2021 by Mohamed Azab, Yosra Badr, Ali Youssef, and Hamza Mohamed, Grinta prides itself as a fintech-enabled B2B tech platform digitizing the pharmaceutical provide chain.
- The Grinta platform provides pharmacies entry to the complete spectrum of traceable pharmaceutical and medical merchandise from a number of distributors along with offering fulfilment, demand planning, and stock financing.
- The startup works primarily with stakeholders throughout the worth chain, producers, distributors, wholesalers, and pharmacies, to construct a data-driven, dependable, and environment friendly pharmaceutical provide chain.
- Egypt has sturdy native producers, 3 massive distributors and greater than 3,000 wholesalers all focusing on 60,000 fragmented retail pharmacies which can be but to be digitised, which makes it the biggest Prescription drugs market in Africa with a measurement surpassing $6 billion.
- In an announcement, the startup disclosed that the funds will probably be invested to scale Grinta’s full-stack tech platform, increase its crew and speed up its progress throughout the Egyptian market.
- Different traders within the spherical embrace Silicon Valley-based Endeavor Catalyst and 500 World, bringing its whole funding up to now to $9.5 million.