South African health-tech startup BusyMed has closed an undisclosed round of funding from Entrepreneurs for Entrepreneurs Africa (E4E Africa).
Founded in April 2019, BusyMed is a mobile-app solution that lets users connect directly to pharmacies, do an online consultation, and then have the correct medication delivered quickly and efficiently to their doorstep.
According to a statement shared with TechCabal, the app enables pharmacies to plan stock more accurately and track popular items. By developing this dataset and leveraging the logistics solution BusyMed offers, pharmacists can focus on managing their costs and ultimately enhance their profitability.
The investment by E4E Africa will enable BusyMed to increase its pharmacy base to around 300 by the end of the year. The investment will also enable the startup to double its back-office capacity and automate systems to ensure end-to-end best service.
“Raising capital in South Africa is not easy, but the fact that we have been able to raise it on multiple occasions highlights the opportunity that the e-health market offers locally,” said Mpathi Jezile, BusyMed’s managing director.
For E4E Africa, Bastiaan Hochstenbach, co-founder and managing partner, stated: “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.”
With over 3700 community pharmacies, 615 institutional pharmacies and more than 300 institutional private operations in the country, BusyMed anticipates significant further growth and looks forward to engaging with industry role players.
