Dawaai, a Pakistani online pharmacy and healthcare platform has raised investment from the country’s leading VC Sarmayacar, London-based Kingsway Capital, and San Francisco-based Mentors Fund, Sarmayacar announced today in a statement.
The statement did not disclose the size of the investment but we’ve confirmed that it is a seven-figure (USD) round with Sarmayacar being the largest investor in it.
Kingsway Capital, the statement points out, has previously also invested in Pakistani real-estate startup Zameen’s parent company Emerging Markets Property Group (EMPG). They’ve also invested in some other startups of the region including Jordan’s Mawdoo3 and Egypt’s BasharSoft.
Founded in 2013 by a former investment banker Furquan Kidwai, Dawaai was one of the first of its kind platforms of the country to digitize the pharmaceutical logistics in Pakistan. The startup today operates an online pharmacy targeting both businesses (retail pharmacies, medical stores, and other businesses) and individuals selling medicines, medical equipment, and personal care and fitness products all over Pakistan. Dawaai, according to its website offers free shipping of orders above PKR 500 ($3) across Pakistan.
For prescription medicines, the users are required to upload their prescriptions using the app, website or share them over WhatsApp with a Dawaai representative.
The Karachi-headquartered startup that sources medicines directly from manufacturers and ‘established distributors’ claims to have grown over 6x in scale in the last twelve months.
“The increased scale has also appealed to manufacturers who previously struggled to have their products reach far-flung areas of the country, which in turn has helped Dawaai win more attractive terms from manufacturers. The challenge for Dawaai, it appears, is not the addition of customers rather ensuring efficient logistics and sufficient inventory supply to fulfill orders from across the country,” noted the statement.
Dawaai that allows customers to order medicines and other pharmaceutical products through its website or mobile app also allows them to order different lab tests online including Covid-19.