BusyMed, a health technology firm based in South Africa, has completed an undisclosed investment round led by Entrepreneurs for Entrepreneurs Africa (E4E Africa).
BusyMed is a mobile app solution launched in April 2019. It allows users to connect directly to pharmacies, do an online consultation, and then rapidly and efficiently deliver the appropriate medication to their doorstep.
According to a statement that was provided to TechCabal, the application makes it possible for pharmacies to arrange inventories more correctly and track popular commodities. The creation of this dataset and utilization of the logistical solution that BusyMed provides enables pharmacists to concentrate on cost management, allowing them to increase their profitability.
Because of the investment made by E4E Africa, BusyMed will be able to increase the number of pharmacies it works with to around 300 by the end of the year. The firm will also be able to automate its processes and expand the capacity of its back office thanks to the funding, which will enable it to provide the finest end-to-end service possible.
Raising finance in South Africa is not easy; nonetheless, BusyMed has been successful in doing so many times highlights the possibility that the e-health sector presents locally,” according to Mpathi Jezile, the managing director of BusyMed.
E4E Africa, Bastiaan Hochstenbach, co-founder and managing partner, said Emerging economies face several significant issues, one of the most significant being limited access to high-quality medical care and medication.
We are pleased to be able to help the e-health innovation company BusyMed grow and become a crucial participant in this ecosystem.
BusyMed sees significant expansion and is looking forward to collaborating with industry key players. The company currently operates more than 3700 community pharmacies, 615 institutional pharmacies, and more than 300 institutional private operations across the country.