South African e-Health Startup, BusyMed Secures Funding in new Round for Expansion
In order to accelerate its expansion goals, the South African e-health firm BusyMed has secured more money. BusyMed is enhancing communities all throughout the country’s access to pharmacies.
Established in 2018, BusyMed gives consumers access to hundreds of items provided by nearby small pharmacies, including prescription drugs, which may then be delivered in 60 minutes to their homes.
Its goal is to use a digital platform to link customers with pharmacies directly, allowing them access to online consultations, products, and pharmaceutical purchases with quick home delivery. The technology enables pharmacists to obtain real-time stock information, performance information on top-selling products, and more efficient inventory management.
BusyMed, which was previously supported by VC company LionPride in 2020, has now attracted a fresh round of funding from E4E Africa, a VC fund focused on entrepreneurs and run by seasoned business owners, like-minded mentors, and investors.
By the end of the year, BusyMed will be able to add about 300 new pharmacies to its network thanks to the investment. The investment also enables the team to automate systems to assure top-notch service from beginning to end and increase its back-office capacity.
The managing director of BusyMed, Mpathi Jezile, said: “Raising capital in South Africa is not simple but the fact that we have been able to raise it on several times demonstrates the possibilities that the e-health sector presents locally.”
He said that the startup’s learnings from the COVID-19 response had changed the playing field.
We take great satisfaction in the fact that we have contributed to the transformation of access to healthcare products and services. “Whether you had access to world-class private healthcare or you were navigating the public healthcare system, access to your medication was vital,” Jezile said.
According to Bastiaan Hochstenbach, co-founder and managing partner at E4E Africa, “access to excellent healthcare and medicine is one of the primary difficulties for emerging markets. We are glad to help e-health innovation BusyMed to grow and be a vital participant in this ecosystem.” BusyMed can be precisely the kind of scalable solution that E4E Africa supports for real-world issues.
