BusyMed, a South African healthtech startup has raised undisclosed funding from LionPride, a Venture Capital Investor. The investment was facilitated by HAVAIC.
BusyMed aims to connect consumers directly to pharmacies via a digital platform, giving them access to online consultations, products, and medication purchases with fast home delivery. BusyMed was founded on the belief that quality healthcare should be and can be accessible to everyone.
The platform allows for pharmacies to provide real-time stock information, access performance data on best-selling items, manage inventory more effectively, and leverage off existing pharmacy and 3rd party delivery solutions.
Furthermore, it facilitates and closes a gap where the end consumer may need to secure doctors consultations and provides an online prescription management service.
Mphati Jezile who founded BusyMed in 2019 said: “We’re excited about the opportunity this investment provides us. BusyMed aims at improving pharmacies’ engagement with their communities through technology and by doing so bring to access to quality healthcare into everyone’s home.”
The investment from LionPride will be used for further platform development and the build-out of the customer and revenue base.
Deven Govender of the LionPride Agility Fund says, “The Agility Fund is an impact investment fund that invests in ventures that have a social benefit whilst providing a potentially high yielding investment for our investors.
“It’s great that we can support a young and talented entrepreneur like Mphati in a venture that utilises technology to enable access to healthcare for communities across the country.
“Not only do we see human potential in Mphati and the impact of Busymed in South Africa’s communities, but as a fund manager the investment has to make sense as well, and we believe it does.”
HAVAÍC’s Managing Partner, Ian Lessem comments: “We are incredibly excited to have assisted Mphati and BusyMed with concluding the investment and partnership with LionPride.
“In Mphati you have an entrepreneur who is committed to making a difference in the healthcare sector by adopting technology platforms, and we cannot wait to see BusyMed develop and grow, and are thankful to have been a small part of their exciting journey.”