Bangladesh-based healthtech firm Arogga has raised US$1.3 million in a seed round from investors like Hyper, Ratio Ventures, and Sketchnote Partners.
The Arogga team / Photo credit: Arogga
Demand Curve CEO Julian Shapiro, IDLC Finance, and SRB Ventures, along with other angel investors, also took part in the round.
Founded in 2020, Arogga was established by Rosina Mazumder, alongside Fahad Hossain, Shamim Hasan, and Yawar Mehboob. Mazumder serves as the CEO of the startup, which sells discounted medicines sourced directly from pharmaceutical manufacturers.
The latest investment will go toward bolstering Arogga’s tech, product, and operational teams as it looks to scale its operations.
See also: Series SEA: Who’s investing in the region’s health startups?
“Fake medicines in the supply chains cannot be solved easily with conventional policing. We need a holistic approach to effectively reorganize the supply chains,” said Arogga co-founder Fahad Hossain.
The financing comes amid an increasing demand for healthtech services in Bangladesh, where the digital health market’s revenue is poised to hit US$371.53 million by the end of 2022.
The latest round brings the total funds raised by Arogga so far to US$1.6 million.
Editing by Collin Furtado and Arpit Nayak
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