In order to accelerate its development goals, the South African e-health firm BusyMed has secured more money. BusyMed is enhancing communities all throughout the country’s access to pharmacies.
Established in 2018, BusyMed gives consumers access to hundreds of items provided by nearby small pharmacies, including prescription drugs, which may then be delivered in 60 minutes to their homes.
Its goal is to use a digital platform to link customers with pharmacies directly, allowing them access to online consultations, goods, and pharmaceutical purchases with quick home delivery. The technology enables pharmacists to obtain real-time stock information, performance information on top-selling products, and more efficient inventory management.
BusyMed, which was previously supported by VC company LionPride in 2020, has now secured a fresh round of funding from E4E Africa, a VC fund focused on entrepreneurs and run by seasoned business owners, like-minded mentors, and investors.
By the end of the year, BusyMed will be able to add over 300 more pharmacies to its network thanks to the investment. The investment also enables the team to automate systems to assure top-notch service from beginning to finish and increase its back-office capacity.
“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.
He said that the startup’s learnings from the COVID-19 reaction 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.”