Singapore pharmacy platform startup lands $27m in funding round backed by Bill Gates
Pharmacy app SwipeRx has raised $27 million in a Series B funding round led by MDI Ventures in Indonesia. Other backers included the Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures, Pennsylvania-based Susquehanna International Group, and other existing investors.
The SwipeRx app is designed for Southeast Asian pharmacy professionals, allowing them to connect and purchase drugs through the platform’s B2B commerce tool, as well as receive news and industry information.
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The latest funds will be used to further accelerate its growth in Southeast Asia, with a focus on Indonesia, according to SwipeRx. Press release.
The Singapore-based startup was founded in 2012 by Farouk Meralli, who previously worked as a consultant at Johnson & Johnson and Pfizer.
“This round of funding reaffirms our commitment to disrupting this deeply fragmented industry while improving public health by supporting the pharmacy channel,” Meralli, who is also CEO, said in the press release.
SwipeRx has partnered with healthcare organizations such as AstraZeneca, Clinton Health Access Initiative, Stanford University, Oxford University and more, with over 235,000 pharmacy professionals using its platform , according to his website. It has offices in Singapore, Indonesia, the Philippines, Thailand, Vietnam, Malaysia and Cambodia.
The startup, formerly known as mClinica, last raised $6.3 million in its A-Series funding cycle in 2017.