iSupply closes USD 1 mn round: Local pharma distribution startup iSupply has secured around USD 1 mn in a Pre-Series A round, co-founder and CEO Ibrahim Emam (LinkedIn) told Enterprise. The round saw participation from local VC Disruptech Ventures, Egypt Ventures, Africa-focused Axian Investment CVC, OneStop Capital, among others, the company said in a press release (pdf).

About iSupply: Founded in 2021, iSupply is the region’s first tech-enabled pharma distribution marketplace connecting pharmas and small to medium-sized distribution firms. The marketplace currently serves over 10k pharmacies, connecting them with over 200 distributors — it processes over 1 mn purchases a year. This round brings the startup’s total raised capital to USD 2.5 mn.

What’s next: iSupply is now looking to obtain a license from the Financial Regulatory Authority, which — coupled with the funding round — will “bolster iSupply’s expansion plans and enhance its capabilities in financing small and medium-sized pharmacies,” the company said. The license will help the startup “meet the escalating market demand for funding, address working capital shortages among pharmas and small distributors.”

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