Singapore B2B healthtech e-commerce platform Kyberlife raised $3 M investment
The business-to-business (B2B) healthcare e-commerce platform Kyberlife, headquartered in Singapore, announced on Wednesday that it has raised $3 million in its most recent round of funding, which was led by Singaporean venture capital firm 5I Ventures.
East Ventures, A2D Ventures, and NUS Alumni Ventures (NAV) also participated in the round, according to a statement from Kyberlife.
Kyberlife’s plans for regional expansion and its goal of streamlining the digital procurement process in the healthcare industry will be aided by the new funding.
The company’s most recent funding round will support its next phase of regional growth and expansion, with a focus on a number of important projects such as investing in emerging technologies, connecting local healthcare institutions to international suppliers, and expanding into Indonesia.
By providing them with a platform to grow their businesses internationally and look for new growth opportunities, the company will try to onboard Indonesian vendors onto its platform.
In Southeast Asian markets like Singapore, Indonesia, and Thailand, the business also plans to expand its network of suppliers and clients.
The company aims to enable local organizations to improve their research and development (R&D) activities in clinical trials and pharmaceutical research throughout ASEAN by launching new product categories like laboratory equipment and chemical reagents.
In the next three years, the company wants to increase the size of its vendor portfolio by ten times.
In order to provide tailored product recommendations, Kyberlife will also seek to invest in technologies such as artificial intelligence (AI).
These developments will reduce the sustainability gap in the search, sourcing, and acquisition of goods by digitizing procurement processes.
“Kyberlife is a platform that is built by scientists, for scientists. Our vision is to simplify the complex and lengthy process researchers face when sourcing laboratory equipment and supplies essential for R&D in the healthcare industry,
“…we look forward to connecting more healthcare vendors with institutions to drive R&D efforts in Singapore and in the broader Southeast Asia region,” said Ryan James Lim, Co-Founder and Chief Executive Officer, Kyberlife.
Kyberlife is an e-commerce platform for healthcare that aims to simplify the process of purchasing medications and medical supplies.
The company links research clients with reliable suppliers by utilizing AI-driven solutions and data analytics, guaranteeing effectiveness, openness, and cost savings in the healthcare supply chain.
