YC-Backed Remedial Health Raises $1M Pre-Seed To Digitize Pharmacies In Nigeria
Remedial Health has secured $1 million in pre-seed funding to digitize pharmacies, and stem the supply of fake and substandard pharmaceutical products, starting with Nigeria before expanding to the rest of Africa.
Founded in 2020 by Samuel Okwuada, a trained pharmacist and self-taught software developer, together with his co-founder Victor Benjamin – the company is said to be using part of the new funding will be used to extend the startup’s buy-now-pay-later offering, for an even wider reach.
Okwuada started his entrepreneurial journey while still at the university, where he built SaaS products, before using his experience in tech, and training as a pharmacist to launch Remedial together with Benjamin, a pharmaceutical field sales agent.
The business’s health system allows pharmacies to manage their operations, make and track orders – which the startup says it fulfills within 24 hours. The platform also stores patients’ medical records and supports reporting and accounting.
“For those using the system, because we can basically see their shelves, we are solving their supply issues by ensuring that they’re getting the products when they need them. And so they don’t have to go to the market and waste time by going through 20 to 30 individual distributors to buy all the medicines and supplies that they need,” says Okwuada to Tech Crunch.
The round was led by Global Ventures and Ventures Platform, with participation from Ingressive Capital, Voltron Capital, Opeyemi Awoyemi’s (Jobberman co-founder) Angel Syndicate Fund, and other angel investors, including Flutterwave’s Olugbenga “GB” Agboola and Victor Asemota.