Famasi, a Nigerian e-health startup that began as a medicine management service but has since broadened its mission to include creating pharmacy infrastructure to grow digital health, has secured a pre-seed round of investment.
Microtraction led Famasi’s pre-seed round, which included Ore Ogundipe, GetEquity SPV, Isaac Ewaleifoh, Ibrahim Bello, Ayobami Olufadeji, Yusuf Abdulmalik, Adeline Okoh, Echezona Uzoma, Lanre Adelowo, Prosper Otemuyiwa, and Nadayar Enegesi.
“With this funding, we’re lucky to partner with investors who believe in this mission, including some of our early customers who connect deeply with the problem,” founder Adeola Ayoola said.
A Look At What The Startup Does
Famasi, founded in 2021 by Adeola Ayoola and Umar Faruq Akinwunmi, is a digital health platform that enables consumers to obtain prescriptions, receive doorstep delivery, automate monthly refills, receive free follow-ups, and interact with healthcare experts.
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“When we started, we realised there was a huge infrastructure gap and we had to build ours from scratch. Access to medications is a problem that’s bigger than one startup,” Ayoola said. “However, we believe that with the proper infrastructure, we can offer more personalisation with our B2C offering while enabling more digital health solutions to not just be born, but thrive.”
According to Faruq, the business expects to enrol over 35,000 consumers from its pipeline and increase its supplier base from 229 to 1,000 by the end of 2023.
“We’re on a mission to power one million refills by 2027. We’re very lucky to have an amazing team where everyone is connected to the problem and passionate about solving it for themselves and their loves. We’re on track to simplify & personalise medication management at scale, starting with our APIs,” he said.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard