Bangladesh-based Arogga gets $4m injection to fight counterfeit drugs

Arogga Team/ Photo credit: Arogga

Counterfeit medicine has become a significant problem in developing countries, including Bangladesh. Estimates suggest that fake drugs can make up 30% of all medicines sold in the open market at any given time. 

Arogga is a Bangladeshi startup aiming to nip the issue in the bud by making genuine and affordable medication more accessible. 

With this goal in mind, the company has recently raised US$4 million in fresh capital, bringing Arogga’s total seed funding to US$5.5 million. The new round was led by The Venture Collective, a US-based venture capital firm. 

Funding details

• Funding amount: US$4,000,000
• Lead investor: The Venture Collective
• Other investors: Blue Collective, Iterative, Stella Maris Partners, Ration Ventures, Sketchnote Partners, Epic Angels, IDLC and Startup Bangladesh Limited
• Stage: Seed
• Source

Arogga’s platform allows patients to order medicines online and have them delivered at a cheaper price. The company – which won Tech in Asia‘s Pitch Night in March 2021 – does this by sourcing its supply directly from the manufacturers. 

In addition to medicine, its platform also offers doctor consultations, laboratory testing, and insurance, among other services.

Rosina Mazumder, co-founder and CEO of Arogga, said that while the company’s focus remains on deepening its reach in Dhaka, it will be expanding its hubs to two other major cities in Bangladesh by the second quarter of 2024. 

Since its establishment in 2020, Arogga has grown to offer over 32,000 medicine and healthcare products from over 500 manufacturers to its 500,000 customers. 

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