Pharma platform SwipeRx secures $10m in Series B2 funding

SwipeRx photo.

Singapore-based pharmacies platform SwipeRx announced that it has raised $10 million in its Series B2 funding round backed by global pharma Sanofi’s Global Health Unit and Cercano management.

The funding round, which followed SwipeRx’s $27-million Series B round in May 2022, was also participated by existing investors Susquehanna International Group (SIG), Johnson & Johnson, and Patamar Capital.

The startup’s Series B round last year was anchored by Indonesia’s MDI Ventures and backed by global investors, including the Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures, SIG, and other existing investors.

SwipeRx said it will use the fresh funds to expand its B2B commerce platform for the pharmaceutical industry in key markets. It will also invest in specialised healthcare logistics and financing, further growth its pharmacy network, and strengthen its advanced data teams.

To-date, SwipeRx has more than 250,000 pharmacy professionals and 50,000 pharmacies on its digital network. It provides its users across the region with the digital tools and information they need to better serve patients and manage their pharmacies.

The firm works with leading pharmaceutical companies, governments and NGOs to connect the entire pharmaceutical ecosystem.

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,” said Farouk Meralli, founder and CEO of SwipeRx.

SwipeRx was a recipient of the World Economic Forum’s “Technology Pioneers,” and received several other accolades including the World Government Summit’s “Best m-Government Service Award”, the “ORIGIN Innovation Award” for Health-Tech, USAID-FHI360’s “Data for Resilience Award,” a winner of the Pierre Fabre Foundation Prize for eHealth Innovation, and the winner of Hack Osaka.

With its corporate headquarters in Singapore and a strong presence in Indonesia, The Philippines, Vietnam, Malaysia, Thailand and Cambodia, the firm is backed by a set of global investors, including the Bill and Melinda Gates Foundation, Cercano (formerly Microsoft co-founder Paul Allen’s Vulcan Capital) Sanofi, Johnson & Johnson, MDI Ventures, Susquehanna International Group (SIG), Patamar Capital and Global Innovation Fund among others. –