Nigerian health technology startup Remedial Health has secured $4.4 million in seed funding to facilitate its expansion across the country and provide credit access for neighbourhood pharmacies. The funding round, led by Global Ventures, also saw participation from Tencent, Y Combinator, and other prominent investors. Remedial Health aims to empower pharmacies and hospitals through its technology-enabled platform, offering group buying discounts, access to credit, and improved supply chain efficiency.
With a total funding of $5.1 million, Remedial Health plans to expand its services across Nigeria and subsequently across Africa in 2023. The company, part of Silicon Valley's Y Combinator accelerator, has witnessed a 600 percent increase in sales volumes and currently operates in 16 of Nigeria's 36 states. By providing digital procurement platforms and access to affordable medicines, Remedial Health seeks to improve access to quality healthcare in Africa while optimizing pharmaceutical supply chains.