Singapore Pharmacy Platform Startup Lands $27 Million In Bill Gates-Backed Funding Round

Pharmacy app SwipeRx raised $27 million in a Series B funding round led by Indonesia’s MDI Ventures. Other backers included the Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures, Pennsylvania-based Susquehanna International Group and other existing investors.

SwipeRx’s app is designed for Southeast Asia’s pharmacy professionals, which allows them to connect and purchase medicine through the platform’s B2B commerce tool, as well as receive industry news and information.

The latest funds will be used to further accelerate its growth across Southeast Asia with a focus on Indonesia, according to SwipeRx’s press release.

Headquartered in Singapore, the startup was founded in 2012 by Farouk Meralli, who previously worked as a consultant at Johnson & Johnson and Pfizer.

“This round of funding reaffirms our commitment to disrupt this deeply fragmented industry while improving public health by supporting the pharmacy channel,” Meralli, who is also CEO, said in the press release.

SwipeRx has partnered with healthcare organizations such as AstraZeneca, Clinton Health Access Initiative, Stanford University, University of Oxford and more, with over 235,000 pharmacy professionals using its platform, according to its website. It has offices in Singapore, Indonesia, Philippines, Thailand, Vietnam, Malaysia and Cambodia.

The startup—formerly known as mClinica—last raised $6.3 million in its Series A funding round in 2017.