MedHyve Co-Founder and CEO of Nigel Lirio
MedHyve, an online B2B medical equipment marketplace, has raised US$407,500 in pre-seed investment.
Pegasus Tech Ventures and Foxmont Capital co-led the round, with former Lazada and Alibaba executives from 10K Ventures joining.
MedHyve will use the capital to strengthen operations and technology to make medical supplies procurement in growth markets, like the Philippines, more efficient and cost-effective.
Founded in 2019, MedHyve aims to make quality medical supplies and equipment accessible to more medical institutions. The marketplace is fitted with intelligent procurement tools and dashboards. The goal is to make purchasing medical supplies cheaper and easier for hospitals especially those in the provinces.
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“The investment will allow us to reach more medical institutions and provide them with the help they need to serve their communities,” Nigel Lirio, Co-Founder and CEO of MedHyve said.
MedHyve currently carries over 100 suppliers and 5,000 products online, serving 600+ hospitals and clinics across the Philippines.
Digital technology has disrupted many industries, and healthcare is no exception. The COVID-19 pandemic further emphasized this, accelerating the pace of technology adaptation across the industry. With the help of this funding, MedHyve will continue to work hard to realise its goal of revolutionising healthcare through technology-powered innovations.
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