mPharma raises $35m

mPharma has announced a $35m pre-Series D round. The new funds, which include $5m debt, will enable the build out of its data infrastructure and support the company’s expansion plans in new and existing markets.

Investors in the round included JAM Fund; growth investment firm Unbound, and Lux Capital, a New York-based VC making its first investment in Africa. Northstar, Social Capital and TO Ventures also participated, alongside Novastar Ventures.

mPharma was founded in 2013 to drive supply chain efficiencies for pharmaceutical products across the continent. mPharma Co-founder and CEO, Gregory Rockson commented: “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”.

Read more in TechCrunch: mPharma raises $35 million in round joined by Tinder co-founder’s JAM fund, Bharti executive