The top pharmacy platform in Southeast Asia just revealed that it has raised $10 million in new funding as part of a fresh Series B2 round.
The Multinational Health Unit of global drugmaker Sanofi and Cercano Management (formerly Microsoft co-founder Paul Allen's Vulcan Capital) both made investments in this round. Susquehanna International Group (SIG), Johnson & Johnson, and Patamar Capital, who are already investors, also took part.
In May 2022, the company had announced the raising of its $27 million Series B investment. The Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures, SIG, and other existing investors participated in the previous Series B investment, which was led by MDI Ventures of Indonesia.
SwipeRx will develop its Business to Business (B2B) commerce platform for the pharmaceutical industry in significant areas with the additional funding raised. The company will also put the money into expanding its pharmacy network in these important markets, bolstering its advanced data teams, and investing in specialised healthcare financing and logistics.
More than 50,000 pharmacies and 250,000 pharmacy workers currently use SwipeRx's digital network. It offers users in the area the digital resources and knowledge they require to better serve patients and run their pharmacies. To connect the entire pharmaceutical ecosystem, the company collaborates with top pharmaceutical corporations, governments, and NGOs.
Our ability to accomplish this purpose while exhibiting rapid growth, solid economic fundamentals, and market dominance is demonstrated by this new investment. With this fresh capital infusion from these reputable investors, we look forward to driving our development even more, said SwipeRx founder and CEO Farouk Meralli.
As the largest online community for pharmacy professionals and an all-in-one digital B2B commerce platform, SwipeRx is the top application for pharmacies in Southeast Asia.
Over 12,000 retail pharmacies, or a quarter of all pharmacies in the country, are on SwipeRx in its largest market, Indonesia, and over 8,000 of them are also on the B2B commerce platform.