KARACHI: MedznMore recently announced that it has completed its pre-series A round marking the largest investment in healthtech to date. MedznMore is on a mission to reshape healthcare in Pakistan by increasing the accessibility of authentic medicine and services across the country to reach all 220 million people.
MedznMore raised $2.6 million in September 2020, which was then the largest seed round in Pakistan, bringing the total funding since inception to over $14 million. This round, the country’s largest Pre-Series A to date, included Integra Partners, Nunc Gestion, Atlas Group, Sturgeon Capital, and Alta Semper with follow-on participation from Lakson Group. Additional investors included ACE & Co, AlTouq Group, Key Family Partners, Reflect Ventures and select angel investors.
The company founded in late 2020 by Babar Lakhani, Asad Khan, and Saad Khawar is a B2X pharma delivery platform that is transforming healthcare in Pakistan. The company is tackling fundamental problems that have persisted for decades in buying medicines and wellness products for consumers and retail pharmacies alike.
“In a market of over 220 million people, where public healthcare spending is only 1.2 percent of GDP, and where 55 percent of all healthcare spending is out-of-pocket, people generally rely on medicines to alleviate their suffering rather than spend on unaffordable medical procedures. Ensuring the accessibility of affordable and authentic medicines is essential. At MedznMore our aim is to make health and wellness products available in all corners of the country,” said Asad Khan.
Copyright Business Recorder, 2022
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