The start-ups have seen a boom in the year 2021, securing the record fundraisings. Interestingly, these startups are not confined to a sector, but all the sectors are making the best of this opportunity. Pakistani Pharmacy Medznmore secures the biggest Health Care Funding of $11.5 million.
The startup was founded by Asad Khan and Saad Khawar in 2020, where they raised $2.6 million. Asad Khan is a senior Careem alum, whereas Saad Khawar is an e-commerce industry veteran. Both have a shared interest in making healthcare accessible to the general public.
Asad said, “In order to ensure 100 % authenticity, all our medicines are procured either directly from the manufacturer or authorized distributors. In addition, we want to make the process more convenient than your local pharmacy, ensuring order delivery within four hours at the most affordable prices. “Healthcare is one of the last few frontiers where technology hasn’t disrupted entrenched practices, which are complex, confusing, and inconvenient for the consumers of healthcare services. Over the next few months we will be bringing in diagnostic, telehealth, and personalized health insurance products, so customers can benefit from a one window solution for all their healthcare needs.”
Saad Khawar said, “At MedznMore, we are building a product that is based on the best technology stack, backed with operational efficiency and a well-managed logistics engine coming together seamlessly to provide our customers with an amazing experience.”
In the latest news, they have managed to raise $ 11.5 million in the investors in the pre-Series A round including Integra Partners, Sturgeon Capital, and Nunc Gestion. This will help to expand their services and hire tech talent. They sell medicine to pharmacies and retail customers.
They are operating in Karachi, Lahore, and Islamabad at the moment and have hired more than 800 people.
Asad Khan said, “By the end of this year we expect to be in seven to eight new cities,” Chief Executive Officer Asad Khan said in an interview. “A lot of this capital will be spent on these cities to build warehouses, have omnichannel stores, staff, and inventory.”
This is good that healthcare is getting the much-needed attention. Access to the best in every citizen’s right. Such startups can fill the gaps that are unattended by the government.