Online concierge pharmacy platform POC raises $4.5 mln to improve services in Vietnam
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Pharmacy Online Concierge Pharma has secured $4.5 million in an equity financing round to digitize pharmacies in Vietnam.
Based in Vietnam and Hong Kong, the platform helps stakeholders such as pharmacies, drug manufacturers, distributors, wholesalers, and consumers to digitally manage their interactions.
It raised the money from Picus Capital of Germany, Goat Capital and FJ Labs that of the U.S., Febe Ventures 500 Startups Vietnam of Singapore, and several unnamed angel investors. It is one of the biggest rounds at this stage in Vietnam.
POC Pharma said it would use the money to improve its services in Vietnam, focusing on selling pharmaceutical products online first and then aiming to launch in more countries.
Its services include trade programs and trade offers management, content and information sharing, data integration and visualization, customized customer engagement, multichannel commercialization, and order management. Established in 2020 by Thomas Miklavec and Charles Defrance, POC helps pharmacists manage all their processes, increasing revenues and profits while improving their quality of service.
The startup said it has five global pharmaceutical company customers, including Bayer and Pfizer, and more than 20,000 pharmacies in 22 different markets use its platform.
Questions & Answers
Q.What is the primary purpose of the $4.5 million raised by Pharmacy Online Concierge Pharma?
What is the primary purpose of the $4.5 million raised by Pharmacy Online Concierge Pharma?
The platform will use the money to improve its services in Vietnam, with an initial focus on selling pharmaceutical products online. Following this, the company aims to expand its operations into additional countries.
Q.Which types of stakeholders does the POC Pharma platform assist in the pharmaceutical supply chain?
Which types of stakeholders does the POC Pharma platform assist in the pharmaceutical supply chain?
The platform helps various stakeholders including pharmacies, drug manufacturers, distributors, wholesalers, and consumers. It enables them to digitally manage their interactions within the pharmaceutical supply chain.
Q.Which venture capital firms contributed to Pharmacy Online Concierge Pharma's recent funding round?
Which venture capital firms contributed to Pharmacy Online Concierge Pharma's recent funding round?
Picus Capital of Germany, Goat Capital and FJ Labs from the U.S., and Febe Ventures 500 Startups Vietnam of Singapore invested in the round. Several unnamed angel investors also contributed to the funding.