Buymed Successfully Secures $51.5 Million in Funding
- Nov 28, 2023
- 2 min read
With this successful funding round, Buymed has raised approximately $51.5 million (equivalent to around 1.184 trillion VND). Prior to this, Buymed had consistently secured investments in 2019, 2020, and 2021, totaling $12.8 million. On May 5, a successful funding signing ceremony took place for Buymed, the startup behind the pharmaceutical e-commerce platform thuocsi.vn. The funding […]
With this successful funding round, Buymed has raised approximately $51.5 million (equivalent to around 1.184 trillion VND). Prior to this, Buymed had consistently secured investments in 2019, 2020, and 2021, totaling $12.8 million.
On May 5, a successful funding signing ceremony took place for Buymed, the startup behind the pharmaceutical e-commerce platform thuocsi.vn. The funding round was led by UOB Ventures Management, alongside several other investment funds, including the US International Development Finance Corporation (DFC), Smilegate Investment, and Cocoon Capital.
With this capital, Buymed and thuocsi.vn will focus on enhancing their platform and infrastructure, expanding services, and providing distribution solutions for pharmaceuticals and healthcare services. Operating in the HealthTech sector, thuocsi.vn serves as a bridge between pharmaceutical manufacturers and distributors and over 35,000 pharmacies, with 20,000 regularly purchasing pharmacies across the country. This e-commerce platform not only enables pharmacies to access high-quality medicines at wholesale prices without intermediaries and simplifies the purchasing process, but it also assists numerous pharmaceutical companies in addressing sales challenges and increasing revenue.
Despite the Southeast Asian pharmaceutical and healthcare market being projected to reach $73 billion by 2024, the sector remains highly fragmented. Consequently, Buymed is actively developing a comprehensive “health ecosystem” that spans across Southeast Asia and the broader Asian region.
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