BusyMed Healthtech Secures Funding to Accelerate Expansion

BusyMed, a South African e-health firm that is enhancing communities’ access to pharmacies, has raised extra capital to accelerate its expansion goals.

Established in 2018, BusyMed provides customers with access to hundreds of items provided by nearby small pharmacies, including prescription medication, which users may then have delivered to their homes in 60 minutes.

In order to give customers access to online consultations, products, and pharmaceutical purchases with quick home delivery, it aims to connect them directly to pharmacies via a digital platform. In addition to better inventory management, the platform enables pharmacists to access real-time stock information and performance data on top-selling products.

BusyMed last secured an undisclosed amount from VC company, LionPride in 2020, when the startup claimed the funding will be used to develop the platform and also build customer and revenue base. The latest investment from E4E Africa will enable BusyMed to increase its pharmacy base to around 300 by the end of the year. The investment also enables the team to double its back-office capacity and automate systems to ensure best service end-to-end.

The managing director of BusyMed, Mpathi Jezile, noted that raising capital in South Africa is not simple but the fact that the startup has been able to raise it on several times demonstrates the possibilities that the e-health sector presents locally.” He added that the startup’s learnings from the COVID-19 response had changed the playing field.

“Whether you had access to world-class private healthcare or you were navigating the public healthcare system, access to your medication was critical – we take a lot of pride in the fact that we have played a part in helping transform access to healthcare products and services,” Jezile said.

“Access to quality healthcare and medicine is one of the major challenges for emerging markets and we are happy to enable e-health innovator BusyMed to grow and be a key player in this ecosystem,” said Bastiaan Hochstenbach, co-founder and managing partner at E4E Africa. “E4E Africa focuses on backing scalable solutions for real-world problems, and BusyMed can be exactly that.”