">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Wednesday, January 27, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Startups

Shelf Life, a pharmaceutical supply chain platform raises $3.6M for expansion in Africa

Milcah Lukhanyu by Milcah Lukhanyu
10 months ago
in Startups, Tech
8 min read
0

Shelf Life, a pharmaceutical supply chain platform run by Field Intelligence has closed a $3.6 million Series A funding round for expansion across Africa.

Shelf Life’s round was led by Blue Haven Initiative, with investors including Newtown Partners via the Imperial Venture Fund and Accion Venture Lab. The US$3.6 million equity raise will fund the scale up of Shelf Life, the technology-enabled supply chain finance platform for pharmacies in Africa.

According to Michael Moreland, Co-Founder and CEO, Field Intelligence, “We’re delighted to welcome new investors into the business. They share our vision for catalysing change in a huge and vitally-important sector. They bring deep fintech and logistics experience, which will be vital in helping us build a new generation of healthcare supply chains in Africa and beyond.”

The annual pharmaceuticals market in Africa is valued at over $60 billion. For 80% of people in Africa their community pharmacy is the frontline of the health system and yet they routinely stock out of essential medicines, incur significant losses to expiry and struggle with substandard and falsified drugs. These inefficiencies cost the health system millions of dollars each year and limit access to quality care. 

Field Intelligence has been a pioneer in pharmaceutical supply chain solutions in Africa. Its Shelf Life “Pay-As-You-Sell” subscription service for pharmaceutical products has grown rapidly since first debuting in Nigeria in mid 2017.

“Shelf Life is a proven platform to transform access to medicines through Africa’s private community pharmacy market. The design and development have been done on the ground in Nigeria and Kenya and there’s real experience in the team of what it takes to deliver at scale in African health systems,” Lauren Cochran, Managing Director, Blue Haven Initiative said.

READ  Mobility start-up MAX raises $1 million bond to expand services in Africa

The new investment will fund Shelf Life’s expansion throughout Nigeria and Kenya, as well as the development of additional services for Shelf Life clients and their patients. 

Related posts

Safaricom’s M-PESA Bill Manager brings digital receitps, bills and invoices to businesses & landlords

January 26, 2021
0

Stranded in Lockdown? Here Are 3 Ways You Can Make Money Via Cryptocurrencies Online

January 26, 2021
0

Kenya’s Insuretech startup Pula raises $6m to scale up operations in 13 markets across Africa

January 26, 2021
0
aimbot -8

UNDP Gifts Kenya With Robots That Will Aid In Fighting COVID-19

January 26, 2021
0

Shelf Life’s pharmacy clients can subscribe to over a thousand quality-assured and price-stabilised drugs from 50 medical, health and wellness categories. Using Field Intelligence’s technology platform, Shelf Life forecasts, procures, delivers, manages, and finances each product the pharmacy has subscribed to.

Over 280 community pharmacies in Nigeria and Kenya have now subscribed to Shelf Life, making it one of the largest networks of pharmacies on the continent. It is making the business of community pharmacy less risky and lower-cost, while improving access to an expanded selection of higher-quality medicines. 

Since inception, Shelf Life has maintained 96% stock availability for its clients, up from a pre-Shelf Life baseline of 60%. As an alternative to traditional inventory finance, Shelf Life costs pharmacies between 60 and 82% less than traditional loans – freeing these small retailers from prohibitively expensive capital. 

Advisory support to this transaction was provided by CrossBoundary through USAID’s INVEST program funded by the USAID Southern and East Africa Regional Missions in support of the US Government’s Prosper Africa initiative.

READ  Solar energy firm Xago Africa raises funding from USTDA to build a utility scale solar power plant in Siaya County

Llew Claasen, Managing Partner, Newtown Partners notes, “We’re excited about the potential for the Field Intelligence technology-first distributor business model to grow the pharmaceutical value chain in Sub-Saharan Africa, by supplying genuine pharmaceutical products, managing stock and providing working capital finance to community pharmacies.”


Readers 2,164

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Tech

Safaricom’s M-PESA Bill Manager brings digital receitps, bills and invoices to businesses & landlords

January 26, 2021
0
Tech

Stranded in Lockdown? Here Are 3 Ways You Can Make Money Via Cryptocurrencies Online

January 26, 2021
0
Startups

Kenya’s Insuretech startup Pula raises $6m to scale up operations in 13 markets across Africa

January 26, 2021
0
aimbot -8
Tech

UNDP Gifts Kenya With Robots That Will Aid In Fighting COVID-19

January 26, 2021
0
Tech

Signal Adds WhatsApp Like Features That Have Made The App More Interactive

January 26, 2021
0
Startups

Finnfund & Norfund double Starsight’s funding to $20 million for Ghana expansion

January 23, 2021
0
Startups

African tech startup funding passes $700m in 2020 despite COVID-19

January 23, 2021
0
Toshiba
Tech

Chrome Now Helps You Change Weak Passwords

January 23, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Samsung, Safaricom partner to push Samsung Galaxy S21 pre-orders

January 26, 2021

Safaricom’s M-PESA Bill Manager brings digital receitps, bills and invoices to businesses & landlords

January 26, 2021

8 Facts People Don’t Know About Bitcoin

January 26, 2021

Stranded in Lockdown? Here Are 3 Ways You Can Make Money Via Cryptocurrencies Online

January 26, 2021

3 Tips On Avoiding Cryptocurrency Scams

January 26, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: