Cairo-based healthtech startup Pharmacy Marts has successfully raised a six-figure bridge round, with leading investment from Acasia Ventures, an early-stage venture capital firm.
Founded in 2021 by Ahmed Kadous, Ahmed Mazhar, Haitham El Ghotni, and Mahmoud Shousha, Pharmacy Marts operates as a B2B digital marketplace facilitating seamless connections between pharmacies and medical suppliers. The platform enables easy access to medicine, medical supplies, and cosmetics, addressing the challenges of inconsistent product availability and financing hurdles faced by pharmacists.
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CEO and co-founder Ahmed Kadous highlights the pressing issue of medication distribution in Egypt, citing unreliable availability across pharmacies and geographical areas. This shortage impacts patient access to medication and adds complexity to pharmacists’ operations.
Currently, Pharmacy Marts serves approximately 12,000 pharmacies in Egypt, representing 20% of the market share, with over 200 suppliers on its platform.
Aly El Shalakany, Managing Partner at Acasia Ventures, expresses confidence in Pharmacy Marts’ team and its ability to address significant challenges in the healthcare sector. He believes Pharmacy Marts has emerged as a category leader and is poised for continued success.
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