Vamstar is an AI-enabled global B2B platform that streamlines sourcing and procurement for medical supplies, consumables, and pharmaceuticals. The cloud-based platform uses machine learning, deep learning, and natural language processing to connect billions of data points, provide real-time market intelligence, and enable digital commerce and source-to-pay automation for buyers and suppliers. Its features include ML-powered search across supplier catalogs, automated tenders and sourcing events, prioritized bids, and electronic order and order-to-cash automation for suppliers. Vamstar reports access to 86,000 hospitals and clinics across 100+ countries and partners with industry, academia, and government, including collaborations with the University of Sheffield and the University of Nottingham on Innovate U.K.-funded projects. Founded in 2019 by Praful Mehta, Richard Freeman, Ph.D., and Vishesh Duggar, the company plans to use new funding to accelerate market and product development, improve data quality for faster e-commerce, and digitize procurement and sourcing processes. Vamstar positions its technology to reduce transaction costs, improve data foundations for value-based healthcare, and enable better decision-making for supply chain professionals and clinicians. Vamstar operates an AI-powered B2B marketplace for the healthcare industry that profiles suppliers and buyers and recommends contracts, tenders, and direct purchases. The platform links billions of data points across the healthcare supply chain and currently matches $2 trillion of healthcare contracts and tenders for pharmaceuticals, medical devices, services, and other technologies across public and private buyers in over 70 countries. Vamstar has won Innovate UK grants with the University of Sheffield and the University of Nottingham to help monitor supply chain risk and improve supply-demand matching within the UK health system. The company is headquartered in London and also has offices in India. The fresh $1.7 million seed funding will be used to expand across Germany and the US by the end of the year and to hire in sales and marketing, product development, and data analysis. Co-founder and CEO Praful Mehta highlights the market opportunity, noting that the healthcare industry still spends roughly 40% of its revenue base on manual buyer-supplier matching and legacy systems.

Total raised

$11M

Funding rounds

2

Latest round

Series A

Latest activity

Jun 2022