Health-tech startup, Remedial Health, has completed its pre-seed funding round, raising $1 million, reports say.
The startup, which is focused on creating solutions to improve the delivery of health services in Africa through tech, said it would use the funds to digitalize the procurement of pharmaceutical products, and make it easier for neighbourhood pharmacies, and vendors to access affordable and original pharmaceutical products.
The funds will also be used to extend the Remedial Health’s buy-now-pay-later (BNPL) offering, making healthcare products available to more people. It would also scale its expansion around Nigeria.
The pre-seed funding round was led by Global Ventures, and Ventures Platform. Further participations came from Ingressive Capital, as well as Voltron Capital.
Angel investors that participated in the fundraise includes Flutterwave’s Olugbenga “GB” Agboola, Victor Asemota, Jobberman co-founder – Opeyemi Awoyemi – as well as other investors.
Remedial Health was co-founded in 2020 by Samuel Okwuada, a trained pharmacist and self-taught software developer, and Victor Benjamin.
Commenting on the operations of the startup, co-founder, Samuel Okwuada said:
“For those using the system, because we can basically see their shelves, we are solving their supply issues by ensuring that they’re getting the products when they need them. And so they don’t have to go to the market and waste time by going through 20 to 30 individual distributors to buy all the medicines and supplies that they need.”
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Speaking further, Samuel noted that:
“We don’t force everyone to use the system because we don’t assume that every single pharmacy has a computer and constant power supply. And because we know that the major problem is supply, we make it possible for them to access the procurement system on their phones.”
The startup has operational web in 6 states in Nigeria, and has working relationship with over 100 pharmaceutical companies and suppliers. Some of the companies Remedial Health works with include: GSK, Pfizer and Astrazeneca, Orange Drugs, Emzor and Fidson Healthcare.
The startup currently has over 300 pharmacies that places order via its app, as well as its WhatsApp platform.