Vamstar closes $9.5 million Series A round

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UAE
  • Date: 23-Jun-2022
  • Source: Wamda
  • Sector: Technology
  • Country: UAE
  • Who else needs to know?

Vamstar closes $9.5 million Series A round

UAE-based healthtech Vamstar, has closed its $9.5 million Series A funding round, led by Alpha Intelligence Capital (AIC) and Dutch Founders Fund (DFF), along with existing investors such as btov Partners and Antler.

Founded in 2019 by Praful Mehta, Richard Freeman and Vishesh Duggar, Vamstar is an AI-enabled sourcing and procurement platform for medical supplies and pharmaceuticals.

Vamstar will use this investment to accelerate its market and product development plans.

Press release:

Vamstar, the leading AI-enabled global sourcing and procurement platform for medical supplies and pharmaceuticals, today announced the close of its $9.5 million Series A funding round. Alpha Intelligence Capital (AIC) and Dutch Founders Fund (DFF) led the round, which also included existing investors btov Partners and Antler. With this announcement, the platform is uniquely placed on building resilience to future disruptions to UAE’s healthcare supply chain.

Vamstar will use this investment to accelerate market and product development plans, deploying Artificial Intelligence (AI) to enhance its consumables and generics exchange platform, improving data quality for faster e-commerce, and digitising procurement and sourcing processes for both buyers and suppliers across the industry. 

In line with the UAE Government’s direction to accelerate digital transformation in the healthcare sector, Vamstar’s AI-based platform fills a specific gap in the

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