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Daily Markup #680: SwipeRx boosts Series B round to US$37M, aims to help more pharmacies across SEA serve their patients better

February 13, 2023 · 2 min read
Credit: SwipeRx

Stronger connections for better health

  • 500-backed digital healthcare platform SwipeRx announced an additional fundraise of US$10M, boosting their US$27M Series B round to a total of US$37M!
  • Marquee investors in this round include global pharma Sanofi’s Global Health Unit and Cercano Management (formerly Microsoft co-founder Paul Allen’s Vulcan Capital), who are joining earlier investors MDI Ventures and the Bill & Melinda Gates Foundation.
  • According to the team, the fresh funds will be used to expand their Business to Business (B2B) commerce platform for the pharmaceutical industry in key markets. They will also invest in specialized healthcare logistics and financing, further grow their pharmacy network in key markets, and strengthen their advanced data teams.
  • SwipeRx has more than 250,000 pharmacy professionals and 50,000 pharmacies on their digital network, collaborating with leading pharmaceutical companies, governments and NGOs to connect the entire pharmaceutical ecosystem.
  • The company’s platform provides users across the region with the digital tools and information they need to better serve patients and manage their pharmacies.
  • Founder & CEO Farouk Meralli said, “From our inception, we have been obsessively focused on achieving our mission of improving the quality, availability, and affordability of medicines across Southeast Asia. This new investment is a testament to our progress in achieving this mission while demonstrating rapid growth, strong economic fundamentals, and market leadership. We look forward to accelerating our progress even further with this new injection of capital from these renowned investors.”
  • Congratulations to the SwipeRx team!
  • Read the full announcement here.
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