The seed funding comes a few months after the healthtech’s last fundraising operation. It will help conquer additional states in Nigeria and expand outside the country.

Nigerian healthtech startup Remedial Health announced, Tuesday (September 20), it raised US$4.4 million in seed funding. According to the startup, the funds secured will help accelerate expansion in Nigeria and provide “access to credit for inventory purchases for [its] growing customer base of neighbourhood pharmacies, Proprietary Patent Medicine Vendors (PPMVs), and hospitals in the country.”

“Neighbourhood pharmacies and PPMVs have the potential to be the face of a thriving healthcare system in Africa, and we believe that technology can play a significant role in making this vision a reality. The funds that we have raised and the strategic support from our investors will enable us to deliver the solutions to address various challenges that have hampered these businesses’ growth for many years and make it easier to safeguard lives and livelihoods across the continent for years to come,” said Samuel Okwuada, Remedial Health co-founder and CEO, in a release. 

According to the World Health Organization (WHO), in Africa, counterfeit drugs cause some 100,000 deaths every year and more than 30% of medicines sold on the continent are counterfeit.  Remedial Health wants to solve this problem, by offering its customers a digital procurement platform that allows pharmacies to manage their operations by making it easy to take and track orders. The startup also supports financial reporting and accounting, while providing real-time market intelligence that improves manufacturers' forecasting, production, and distribution decisions.

The healthtech startup was founded in Lagos, Nigeria, in 2009. From January 2022 to date, it has witnessed a 600 percent increase in the number of its customers and expanded its reach from six to 16 states. Thanks to the new financing raised, it plans to cover the remaining 20 states but also lay the groundwork for its African expansion by 2023. 

Samira Njoya