Singapore-based SwipeRx, which owns and operates an online pharmacy platform in Southeast Asia, has secured US$10 million in a Series B extension round.
Global pharma company Sanofi’s Global Health Unit and Cercano Management (formerly Vulcan Capital, launched by Microsoft co-founder Paul Allen) invested in this round.
Existing investors SIG, Johnson & Johnson, and Patamar Capital also participated.
With the fresh funds, SwipeRx will expand its B2B commerce platform for the pharmaceutical industry in key markets. It will also invest in specialised healthcare logistics and financing, grow its pharmacy network in these markets and strengthen its advanced data teams.
Also Read: Where is Southeast Asia’s digital healthcare headed?
SwipeRx is a digital community for pharmacy professionals with an all-in-one B2B commerce capability. It provides the digital tools and information they need to serve patients better and manage their pharmacies.
Its digital network has over 250,000 professionals and 50,000 pharmacies. It works with leading pharmaceutical companies, governments and NGOs to connect the entire pharmaceutical ecosystem.
Indonesia is its largest market, with over 12,000 retail pharmacies (a quarter of all pharmacies in the country) SwipeRx. About 8,000 of them are also on its B2B commerce platform.
In addition, SwipeRx recently launched a new point of sale and inventory management system that has onboarded over 1,000 pharmacies in Indonesia.
In May 2022, SwipeRx raised a US$27 million Series B round led by Indonesia’s MDI Ventures with participation from Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures, and SIG.
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