Healthcare B2B e-commerce platform Kyberlife has bagged $3 million in an investing spherical led by 5I Ventures. The sum was additionally raised from East Ventures, A2D Ventures, and NUS Alumni Ventures.
WHAT IT DOES
Based in Singapore in 2021, the startup runs an internet market for sourcing essential healthcare gear to be used by teachers, analysis laboratories, and different healthcare establishments. It claims to have streamlined the oft-lengthy and sophisticated procurement course of, decreasing time by 40% on common.
Connecting suppliers with laboratories, healthcare establishments, and analysis centres, the platform now options round 1.2 million merchandise from 160 manufacturers, together with Merck, Eppendorf, and Sartorius, serving main clients such because the Nationwide College Singapore, Duke-NUS, Nanyang Technological College, and Nationwide Most cancers Centre of Singapore.
WHAT IT’S FOR
Kyberlife will utilise its contemporary funds to onboard extra suppliers onto its market throughout Southeast Asia, notably Singapore, Indonesia and Thailand. “The corporate goals to develop its vendor portfolio to 10 instances its present measurement throughout the subsequent three years,” the startup shared in a press release. It can additionally introduce new product classes reminiscent of laboratory devices and chemical reagents, supporting scientific trials and pharmaceutical analysis within the area.
The funds will even be invested in AI and information analytics so it could actually allow personalised product suggestions.
MARKET SNAPSHOT
Past Southeast Asia, digital healthcare market operators Flipkart+ Well being and PharmEasy additionally sought to deal with challenges within the procurement of essential healthcare provides throughout the area, notably lengthy sourcing processes, lead instances and opaque pricing.
In 2021, Indian on-line pharmacy PharmEasy purchased Aknamed, including healthcare provide chain administration to its portfolio. The next 12 months, Flipkart Group, additionally from India, entered the healthcare provide chain phase with Flipkart Well being+ after taking a minor stake in e-pharmacy startup SastaSundar.
