Axmed Secures $2 Million in Seed Funding to Revolutionize Healthcare Supply Chain Access

Axmed, a Swiss-based startup, is making waves in the healthcare industry with its innovative approach to addressing healthcare supply chain fragmentation. The B2B marketplace has recently secured $2 million in seed funding from Founderful Ventures, adding to the $5 million in grant funding from the Bill and Melinda Gates Foundation.

Co-founded by Emmanuel Akpakwu, Felix Ohnmacht, and Sofia Radley-Searle, Axmed aims to lower the barriers to accessing costly medicines for patients and providers while enabling manufacturers to expand their reach in underserved markets. The platform has a bold vision for the future of medicine accessibility, empowering buyers and unlocking growth opportunities for suppliers.

Founderful Ventures, the lead investor in this round of funding, expressed confidence in Axmed’s ability to reshape the $140 billion LMIC pharma market and improve access to medicines for over 6 billion individuals. The startup’s commitment to addressing the challenge of medicine accessibility in low- and middle-income countries has garnered praise and support from investors.

With around 2 billion people lacking access to quality, affordable essential medicines, Axmed’s platform offers a solution by optimizing the procurement process for healthcare providers in emerging and growth markets. By aggregating orders from developing countries, Axmed enables pharmaceutical companies to supply drugs at prices that are affordable for less wealthy nations.

Axmed’s initial target markets include Kenya, Nigeria, Ethiopia, Tanzania, and Rwanda, where it plans to collaborate with various healthcare providers and procurement agencies. The startup is currently working on vetting its product with partners before a full launch later this year, with a focus on making maternal and child healthcare more accessible in high-priority countries.