SwipeRx Announces Additional Series B2 Funds of 151 Billion Rupiah, Aims to Accelerate B2B Pharmaceutical Expansion

Startups healthtech SwipeRx, rebrand from mClinica Pharmacy Solutions, announced an additional fresh funding of $10 million (over 151,3 billion Rupiah). This funding follows on from a Series B round that has been underway since 2022, bringing the total to date to $37 million.

A number of new investors participated in this B2 series, including Sanofi Global Health Unit and Cercano Management (formerly Vulcan Capital owned by Microsoft co-founder Paul Allen). Longtime investors Susquehanna International Group (SIG), Johnson & Johnson and Patamar Capital also participated.

The company has announced a round increase series B worth $27 million in May 2022. This round was led by MDI Ventures Indonesia with participation from other global investors, including the Bill & Melinda Gates Foundation, Johnson & Johnson Impact Ventures, SIG and other existing investors.

Fresh funds will be used by the company for:

1. Expanding platforms Business to Business (B2B) for the pharmaceutical industry in key markets;
2. Building a logistics system and pharmaceutical financing;
3. Accelerate deployment of new point of sale and inventory management solutions;
4. Developing its pharmacy network in key markets;
5. Strengthen the data team.

In official statementFarouk Meralli, Founder & CEO of SwipeRx, said that his party has the ambition to improve the quality, availability and affordability of medicines throughout Southeast Asia. This new investment is testament to SwipeRx's progress in achieving this mission while demonstrating rapid growth, strong economic fundamentals and market leadership.

"We hope to accelerate our progress further with the injection of new capital from this line of well-known investors," said Meralli, Thursday (9/2).

Managing Director of Cercano MJ Yu said, “The Covid-19 pandemic has accelerated and strengthened the adoption of digital healthcare in the region, but healthcare systems, including the pharmaceutical industry, are complex and fragmented. We firmly believe SwipeRx is a regional category leader in this B2B vertical, with digitization, collaboration, and transparency at its core. We see enormous scale and potential in the issues they work on and are excited to support the team in their next phase of growth.”

Head of Sanofi Global Health Unit Jon Fairest added, "SwipeRx has proven its ability to drive impact by empowering even the most remote pharmacies to improve the care provided to patients.

“We are excited to play a part in SwipeRx's scaling journey as an investor and partner through our Impact Fund, with a focus on replicating the model in low-income countries, such as Cambodia,” he said.

SwipeRx will continue to grow its network from this position with more than 250 thousand professional pharmacists and 50 thousand pharmacies in Southeast Asia. The solution allows users to have access to the tools and digital information they need to better serve their patients and manage their pharmacies.

SwipeRx has teamed up with leading pharmaceutical companies, governments and NGOs to connect the entire pharmaceutical ecosystem. It is claimed, 1 in 3 pharmacists in Southeast Asia uses a SwipeRx solution. Its users are spread across Indonesia, the Philippines, Vietnam, Malaysia, Thailand and Cambodia.

SwipeRx is an app for pharmacies in Southeast Asia that combines the largest digital community for pharmacy professionals with digital B2B commerce capabilities all-in-one. In the biggest market, Indonesia, there are more than 12.000 retail pharmacies, which is a quarter of all pharmacies in the country, using SwipeRx with more than 8.000 of them also using the B2B platform.

In addition, the company recently launched point of sale (POS) and a rapidly expanding inventory management system now with over 1.000 pharmacies in the country on its platform.