i’Supply, Egypt’s Pharma Distribution Marketplace, Secures $1.5M in Disrupt-Led Pre-Seed Round
i’Supply, the Middle East and North Africa’s foremost tech-enabled distribution marketplace connecting pharma businesses and financing small and medium wholesalers and pharmacies has raised $1.5 million in a pre-seed round led by Disruptech Ventures and other investors,
Ibrahim Emam, CEO of i’Supply, has 20 years of experience as a chief strategy and commercial officer at a leading pharmaceutical distribution company in Egypt formulating, shaping, and leading business and commercial strategies. He is committed to delivering the value and industry-changing features the platform promises as it seamlessly connects different parts of the supply chain.
According to the CEO “Launched in 2021, i’Supply aims to transform wholesale medicine distribution in the MENA region and Africa by focusing on supporting and empowering mid and small-sized wholesalers and pharmacies. The company is building a reliable and integrated network that enhances and augments traditional brick-and-mortar platforms with data-driven disruptive sales, distribution, and procurement solutions that optimize the procurement processes and provide a one-stop-shop solution that supports the industry’s stakeholders to quickly predict and overcome supply chain disruptions.”
i’Supply Successes so far
In pursuit of that vision, i’Supply has seen exponential success and hyper growth in just four months since its launch, reaching $2 million GMV, delivering 50K+ sales orders from 100+ wholesalers covering 10K+ SKUs, and onboarding 5K pharmacies in Great Cairo.
This demonstrates the startup’s strong market knowledge, as well as its extensive expertise and capabilities in the pharmaceutical distribution sector.
However, i’Supply’s strategic focus aligns with Egypt’s overall digital transformation strategy, as the country plans to allocate 7.7% of its GDP to AI by 2030, according to a PWC report titled ‘The Potential Impact of AI in the Middle East.’
Malek Sultan, Disruptech’s Co-Founder and Partner said “We at Disruptech are very excited to be part of iSupply’s journey, we always stand by and back strong founders like Ibrahim and iSupply’s founding team. We believe that Ibrahim and his team will create real positive disruption in the industry.”
Also, “The technology behind i’Supply is built with different stakeholders in mind to create a seamless experience for each of them using advanced AI algorithms” Mostafa Zaki, i’SUPPLY’s Chief Technology Officer explains.
“At i’Supply, we remain focused on adopting the latest and most advanced technologies while responding to dynamic business requirements in the most agile, consistent, and structured manner. The goal of our technical team is to provide our users with the most personalized experience possible using AI engines backed by data sources fully integrated with all systems in the market,” he added.
i‘Supply is planning on covering all of Egypt, targeting 60K pharmacies within the next 12 months, launching distribution and financing services as well as expanding regionally within Africa and the MENA region.