mPharma Raises A $35M Series D Round To Build Its Data Infrastructure And Triple Its Talent Pool


Jan. 5, 2022, 10:38 p.m.

mPharma, one of Ghana’s healthech startups, has raised $35 million in a Series D round. According to mPharma’s CEO, Gregory Rockson, the raise will build the startup’s data infrastructure, triple its talent pool over the next three years and support expansion plans in its current and new markets.

“We are hiring over 100 engineers to build all our technology in-house, and this includes a massive data infrastructure we are creating. We are also investing in other skilled talents like doctors and nurses, professionals that are critical in the work we do,” Rockson told TechCrunch.

“​​Bloom, our pharmacy management software, will allow us to build structured population health data sets that enable Mutti pharmacies to provide better care pathways to the community they serve,” he said.

JAM Fund; a venture capital firm founded by Tinder co-founder Justin Mateen, Unbound; a growth investment firm by Shravin Mittal, the managing director of Bharti Global limited (Bharti family investment arm) and the first investment in Africa for Lux Capital; and a New York City-based VC firm investing in science and tech ventures participated in the round. Other investors include Northstar, Social Capital, Novastar and TO Ventures.

Founded in 2013, the healthtech startup improves access to medicines by providing innovative financing and inventory management solutions to hospitals, pharmacies and patients.

With the new raise, mPharma also plans to grow its community (Mutti) pharmacies across eight African markets to be the first point of care for patients. The startup’s Mutti pharmacies are mini-hospitals offering a wide range of services, including medical consultation, diagnostic and telehealth services and all these while increasing access and affordability to quality medication.

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The startup has now set out to activate more Mutti pharmacies to widen its reach and build out its tech infrastructure as it readies itself for the next growth phase.

“COVID showed us that the best form of care is local, it is in the community, and the closest thing in communities are pharmacies. We believe that the pharmacy of the future, which is what we are creating, is one built around longitudinal care, not episodic care,” said Rockson.

“We are transforming community pharmacies into the foundation of a modern health system in Africa. We will have a Mutti pharmacy in every community on the continent, guaranteeing the availability and safety of medicines for each community. We will further utilise the physical infrastructure of Mutti pharmacies to expand Mutti Doctor (the telemedicine service), creating the largest network of doctor offices and diagnostic centres.”

mPharma is currently present in Ghana, Nigeria, Kenya, Zambia, Malawi, Rwanda, Ethiopia, and Gabon.


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