DrugStoc operates a tech-enabled pharmaceutical procurement and distribution platform that directly links manufacturers with hospitals, pharmacies and doctors while operating fulfillment centers and customer-support units. The company combines marketplace software with licensed distribution and logistics, buying from manufacturers and running internal value chains to assure quality. It currently links about 400 manufacturers to roughly 3,200 doctors, hospitals and pharmacies and says monthly revenues have grown over 1,500% in the past three years; it earns commissions on each sale. Founded in 2015 by Chibuzo Opara and Adham Yehia, DrugStoc grew out of earlier hospital-management work and a 2017 relaunch that added distribution after a Stanford incubation. With new capital it plans to expand beyond its current reach of about 14 million people to cover roughly 100 million Nigerians by opening operations in about 16 states, and later to enter other African markets. The company is also investing in more fulfillment centers, expanded transit routes, last-mile logistics, cold-chain infrastructure for perishables, and partnerships with financial institutions to increase supply-chain financing. DrugStoc operates an end-to-end procurement platform that enables hospitals and pharmacies to source medications and medical consumables and track products from manufacturer to patient. The company says it guarantees drug genuineness via an internationally accredited, traceable supply chain. Growth Capital noted DrugStoc serves more than 3,000 doctors and pharmacists. DrugStoc was founded in 2015 by Adham Yehia and Chibuzo Opara and is based in Lagos. Growth Capital stated DrugStoc is the only ISO-certified healthtech startup in Nigeria after it received ISO 9001:2015 certification. The startup also won the Technology-Driven Distributor Company of the Year award at the 2019 Nigerian Healthcare Excellence Awards.

Total raised

$4M

Funding rounds

2

Latest round

Series A

Latest activity

Nov 2021