Ghanaian Startup mPharma Raises $17m Investment
by ventureburn 2020-05-28
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source: mPharma

Ghanaian healthtech startup mPharma has reportedly raised a $17-million investment.

The Accra based medicine benefits and inventory manager, which was founded in 2013 by Gregory Rockson, Daniel Shoukimas and James Finucane, aims to increase patient access to affordable high quality medications.

the CDC Group, UK’s development finance arm led the round. Existing investors including former Novartis CEO and chairman Daniel Vasella, Silicon Valley investor Jim Breyer and Dompe Holdings also took part in the investment round.

Quartz Africa said the latest funding will help the company to expand its vendor management inventory (VMI) system and QualityRx platforms which are being used by 250 pharmacies in Ghana, Kenya, Nigeria, Zambia and Zimbabwe.

Last month Rockson announced in a tweet that the startup planned to equip and re-purpose private labs into Covid-19 testing centres.

He said the company would start in Ghana and before expanding the programme to Nigeria, Kenya, and Zambia.

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