Egyptian Digital Pharmacy Platform Grinta Secures $8m Seed Funding
Nov 24, 2022
Enrich Africa
2 minute(s) Read
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Cairo-based digital pharmacy, Grinta has raised $8 million in a new seed funding round co-led by Raed Ventures and Nclude, and participation from the Silicon Valley-based Endeavor Catalyst and 500 Global.


Grinta leverages its fintech-enabled B2B tech platform to digitise the pharmaceutical supply chain. According to the startup, the funding will be used to scale its full-stack tech platform, expand its team, and accelerate growth across the Egyptian market.


Grinta was founded in 2021 by Mohamed Azab, Yosra Badr, Ali Youssef, and Hamza Mohamed. The platform presents a modernised pharmaceutical supply chain by empowering independent pharmacies with its end-to-end technology.


The $8 million seed round sums the startup's total funding to date to $9.5 million.


Speaking about this, co-founder, Azab disclosed: “We are very excited to have the right investor base as our backers that share the same values and vision of making pharma accessible and affordable across Africa. As we plan to expand our footprint in the main pharma hubs on the continent, we will also enable Egyptian and regional pharma manufacturers to further penetrate the US$50 billion African market.”


“Since inception in 2021, Grinta has acquired two companies, PH Store, a similar digital platform in northern Egypt, and EME, a software development company with a solid tech team. As a result, the company has expanded aggressively across seven governorates in Egypt, with over 14,000 registered pharmacies on its platform, over 20,000 SKUs and has delivered more than 100,000 orders over the last year.”


Wael Nafee, partner at Raed Ventures, said Grinta had an exceptional team of serial healthcare entrepreneurs that was on a mission to improve access to and affordability of medicines in Egypt and Africa. 


“By empowering pharmacies to be more efficient at running their business, fixing a broken supply chain end-to-end, and partnering with all stakeholders in the value-chain they will realise this vision. We’re proud to be doubling down on Grinta for this funding round as they expand across Africa,” he said.


Nov 24, 2022
Enrich Africa
2 minute(s) Read
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