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§ Private Profile · Oregun, Lagos, Nigeria
Technology-driven procurement platform aggregating medications, consumables, and medical devices for healthcare providers in Nigeria.
DrugStoc is a technology-driven pharmaceutical procurement platform based in Lagos, Nigeria, that aggregates and fulfills orders for medications, consumables, and small medical devices within a 24-hour window. The company provides core marketplace services, anti-counterfeit solutions, and proprietary operational tools such as the Pilometer inventory management software and DrugStoc Pay embedded financing. Serving pharmacies, hospitals, health maintenance organizations, and clinics, the platform offers a comprehensive catalog of over 7,000 products and partners directly with more than 400 pharmaceutical manufacturers. DrugStoc has generated over $2 million in transaction revenue since its launch and recently expanded its physical fulfillment centers to additional Nigerian cities, including Ibadan and Calabar. The organization also received financial backing from the corporate-backed TRANSFORM project to improve supply chain solutions and inventory management for low-income communities. DrugStoc was founded in 2015 by Chibuzo Opara and Adham Yehia.
DrugStoc has raised $4.0M across 1 funding round.
DrugStoc has raised $4.0M in total across 1 funding round.
DrugStoc has raised $4.0M across 1 funding round. Most recently, it raised $4.0M Series A in November 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 1, 2021 | $4M Series A | Asia Africa Investment & Consulting (aaic) | Liam O'connor, Germany, Vestedworld | Announced |
DrugStoc has raised $4.0M in total across 1 funding round.
DrugStoc's investors include Asia Africa Investment & Consulting (AAIC), Liam O'Connor, Germany, VestedWorld.
DrugStoc is a Nigerian healthtech startup founded in 2015 that operates a cloud-based B2B procurement and distribution platform for pharmaceuticals and medical products.[1][2][5] It connects manufacturers directly to healthcare providers like hospitals, pharmacies, clinics, and HMOs, solving supply chain fragmentation, counterfeit drugs, and stockouts by offering over 7,000 SKUs with 24-hour fulfillment, anti-counterfeit verification, embedded financing via DrugStoc Pay, and inventory tools like Pilometer.[1][2][5][6] Serving thousands of facilities and reaching over 20 million people, DrugStoc has shown strong growth, including a $4.4 million Series A in 2021, 1,500% monthly revenue increase over three years pre-2021, and ambitions to hit 100 million users in Nigeria while expanding across Africa.[1][6]
The platform's ISO-certified ecosystem boosts efficiency—eliminating fakes, improving operations by 30% for users, and handling $2 million+ in financing transactions—positioning it as a key player in affordable, reliable drug access amid Nigeria's inefficient traditional supply chains.[2][3][5]
DrugStoc was co-founded in 2015 by Chibuzor Opara and Adham Yehia, who identified Nigeria's pharmaceutical supply chain woes—fragmentation, counterfeits, and stockouts—while managing inventory for 20 facilities using Excel sheets.[1][6][7] Opara, a pharmacist-driven entrepreneur, and Yehia pivoted from a pure tech platform (piloted 2015-2017) after realizing infrastructure was key; they launched officially in 2017 with fulfillment centers, customer support, and incubation at Stanford's Institute for Innovation in Developing Economies.[1][6]
Early traction came from scaling beyond pilots: linking 400 manufacturers to 3,200 providers, securing PCN certification, and raising $4.4 million Series A in 2021 to fuel expansion beyond Lagos into 16 Nigerian states and Africa.[1][6] This evolution from manual fixes to a full ecosystem humanizes their mission to prioritize patient care through quality drugs.[1][7]
DrugStoc stands out in Africa's fragmented pharma market through:
These features create a "hassle-free" ecosystem capturing 30% of users' business value, targeting 60% by 2025.[2][5]
DrugStoc rides the healthtech supply chain digitization wave in Sub-Saharan Africa, where fragmented pharma distribution causes counterfeits (up to 30% of drugs) and inefficiencies, amplified by rising demand from population growth and urbanization.[1][3][6] Timing is ideal post-COVID, with e-procurement booming; market forces like Nigeria's $1B+ pharma imports and regulatory pushes for quality favor platforms like DrugStoc over traditional wholesalers.[2][4]
It influences the ecosystem by enabling 3,000+ facilities to reach 20M+ patients, inspiring competitors (e.g., RxAll, Sproxil), and paving for pan-African scale—planning two countries by 2024—while boosting SDG-aligned access to affordable meds.[1][2][6]
DrugStoc's trajectory points to dominance in African pharma digitization, with near-term focus on Nigeria's 100M-user goal, SKU expansion, and 2024 regional entry amid rising VC interest in healthtech.[1][2][6] Trends like AI inventory, fintech integration, and policy reforms for anti-counterfeits will accelerate growth, potentially evolving it into a continent-wide powerhouse influencing standards and outcomes. As a pioneer fixing "fundamental" fragmentation, DrugStoc exemplifies how tech infrastructure transforms healthcare access, delivering on its 2015 vision at scale.[1][7]