Egypt’s Pharmacy Marts secures bridge round from Acasia Ventures

Egypt’s Pharmacy Marts secures bridge round from Acasia Ventures

Egypt-based healthtech Pharmacy Marts has raised a six-figure bridge round, led by Acasia Ventures.

Founded in 2021 by Ahmed Kadous, Ahmed Mazhar, Haitham El Ghotni, and Mahmoud Shousha, Pharmacy Marts is a B2B digital marketplace that connects pharmacies and medical suppliers to easily access and receive medicine, medical supplies and cosmetics.

Pharmacy Marts claims to have covered 20 per cent of Egypt’s total market, and boasts over 200 suppliers on its platform. It has raised a total $2 million in investments to-date.

Press release:

Early-stage venture capital firm Acasia Ventures has invested a six-figure bridge round in Cairo-based digital marketplace Pharmacy Marts. 

Pharmacy Marts aims to digitise the pharmaceutical sector’s supply chain to improve patient access to medication. Today, pharmacists dedicate an average of 30 per cent of their time to manual stock monitoring and verifying product availability and prices. This results in delayed delivery of medication, further amplified by the fragmentation of the sector, as Egypt currently hosts 60,000 pharmacies offering over 7,000 products from 3,000 suppliers. The bigger caveat is that the connection between all these stakeholders is still very primitive and relies heavily on manual processes and phone calls, that is where Pharmacy Marts steps in. 

Founded in January 2021, it allows pharmacists to