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Ghanaian health tech startup mPharma has raised a USD 35 Mn Series D round to help build the startup’s data infrastructure, triple its talent pool over the next three years, and support expansion plans in its current and new markets. The financing raised comprises USD 30 Mn in equity and USD 5 Mn in debt from CitiBank, bringing the total amount raised by mPharma to USD 65 Mn.
Investors that participated in the round include JAM Fund; a venture capital firm founded by Tinder co-founder Justin Mateen, Unbound; a growth investment firm by Shravin Mittal the managing director of Bharti Global limited (Bharti family investment arm) and the first investment in Africa for Lux Capital; a New-York City-based VC firm investing in science and tech ventures. Other investors include Northstar, Social Capital, Novastar, and TO Ventures.
mPharma offers solutions to health insurance and pharmaceutical companies to make it easier for patients to afford their medications. mPharma partners with drug manufacturers, insurance companies, financial institutions, and governments to deliver prescription drugs directly to consumers in emerging markets. They provide doctors, patients, and pharmacists access to a network of high-quality chronic disease medicine at sustainable prices.