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MyDawa: Story, Founders, Investors & Funding Rounds

MyDawa: Story, Founders, Investors & Funding Rounds

MyDawais a platform that makes it easy to buy a wide range of high-quality pharmaceuticals and health-related goods quickly, easily, and cheaply.

Mydawa works like an online pharmacy. There are products like vitamins, minerals, essential and massage oils, blood sugar and blood pressure monitors, test strips, thermometers, nebulizers, face masks, and adult diapers. 

It was started in 2017 and works with doctors and suppliers to make it easy for customers to buy real, high-quality medicines and health and wellness products. There are now more than 80,000 members.

In May 2018, the Pharmacy and Poisons Board (PPB) changed the company’s license, making it the first online pharmacy in Kenya to have a license.

The goal of MyDawa is to speed up the long and often confusing process of getting drugs to people.

Additionally, MyDawa gives people good, healthy ways to live at prices they can afford.

How it Works

MyDawa uses technology to solve a problem that affects the whole world. Technology has come a long way, and now we can see every step of the drug supply chain and hence helping us streamline operations and lower costs for patients.

Behind the scenes of pharmaceutical items, there is a long and disorganized supply chain that the end user doesn’t see. Each new owner brings new risks and costs, but this doesn’t always make the product worth more. Companies of all sizes are always looking for ways to improve their operations in the supply chain.

MyDawa’s goal is to make the process of making things easier. They make and import their products themselves, then ship them to pharmacies and, finally, to the patient in a sealed box. They’re able to make more things and sell them at lower prices. 

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Items sold on the MyDawa platform are at least 40% cheaper than the market price for MyDawa -branded items, and all other 3rd party items are 20% cheaper thanks to a clever method that MyDawa came up with.

 MyDawa was made to use digital technology to make health care easier to get and cheaper and therefore it is an example of how new technologies are making the supply chain more efficient, which leads to lower drug prices for patients.

When a customer places an order on the website, it will be filled within 4 hours in Nairobi and the surrounding area. All packages that are sent to your home, business, or local pharmacy have a seal that shows if it has been opened.

You can pick up the drug from any pharmacy that works best for you. You can pay for products using M-Pesa and get a text message when it’s ready to be picked up.

Patients will also get more help and advice from Pharmtechs on how to use their medicines best.

Founders

Neil O’Leary

Neil is in charge of both operations and strategy at Ion Equity, a company that “builds” other companies. In the beginning, he was interested in new technologies, but now he has started or run companies that make $7 billion a year and employ thousands of people.

SWS (renewable energy) and Topaz were the two that sold for more than $500 million (fuel and convenience marketing).

Neil was a lawyer, a senior executive at the London Stock Exchange, and an investment banker at UBS before he joined Ion. At UBS, he oversaw the closing of many deals that involved more than one country.

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Both the US sensor technology company Arc Devices Inc. and the Kenyan healthcare disintermediation company MyDawa are businesses that he now runs, controls, or has a large stake in. He owns property or has a stake in a mining operation in France, Italy, and Tunisia.

Among his other charitable activities, he is Chairman of the Cork University Foundation.

Investors & Funding Rounds

Africa HealthCare Master Fund

The Africa HealthCare Master Fund gave MyDawa $3 million, which will help the organization speed up its plans for development across the country.

With this new round of funding, MyDawa will be able to open more locations in Kenya and reach even more people with its goal of making high-quality, low-cost health care available to everyone.

Prescription drugs are on average 20% cheaper Because the startup works with a number of insurance companies.

This means that policyholders may save money and be able to use their insurance plan for longer and that less false and invalid claims are made. Therefore this is good for insurance companies.

Main Competitors

Woof: This is a platform that helps businesses that deal with pets do well.

FoodBoss: It  is an online directory of all the services that deliver food and drinks.

Kyte: This is a mobile app that helps local businesses improve their sales, their management, and their ability to keep clients.

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Flexclub: Story, Founders, Investors & Funding Rounds

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