Jordan-based Dawatech raises Seed round
- Jordan-based healthtech Dawatech has raised a seven-digit Seed round, led by Access Bridge Ventures, with participation from ISSF and other undisclosed investors.
- Founded in 2020 by Mohammad Musleh, Dawatech is designed to adhere to the needs of pharmacy owners through its SaaS platform offering solutions such as payment, inventory, accounting and overall operational management.
- The funding will fuel Dawatech’s expansion plans into Saudi Arabia and enable it to launch its B2B marketplace and further grow its position in Jordan.
Jordan-based innovative healthtech company Dawatech has secured a seven-digit seed investment led by Access Bridge Ventures, with participation from ISSF and other undisclosed investors to support its regional expansion into Saudi Arabia and other Mena markets, as well as launching its B2B marketplace and further growing its leading position in Jordan.
Designed and created by a pharmacist, Dawatech has spent the past two years developing a comprehensive end to end SaaS ERP pharmacy management solution, designed to meet the needs of pharmacy owners in a simple and efficient manner.
The platform was designed to adhere to the needs of a typical Mena pharmacy owner; not only does it provide all required core functionality such as POS, inventory, accounting and overall operational management, but also offers bespoke integration for instant usage with all relevant ecosystem stakeholders, such as regulatory platforms, logistics providers, payment processors and much more.
Furthermore, the platform now integrates with suppliers to automate inventory management, stock replenishment, and much more. A true plug-and-play end-to-end solution.
Mohammad Musleh, founder and CEO of Dawatech said: “Dawatech’s state-of-art technologies help to stabilise and empower pharmaceutical institutes, boost their performance and their profitability.”
He added: “Approaching $100 million GMV, and around 40 per cent of the Jordanian community pharmacies’ sales and purchases are happening on pharmacies using our platform. Dawatech has become the leading and fastest-growing pharmacy management software in Jordan. With Dawatech’s embedded B2B marketplace and fintech products in its solutions, pharmacies are now able to operate smarter and pay to suppliers seamlessly. “Penetrating the Saudi market after proving our concept in Jordan is a very important milestone for Dawatech, with our goal to support the vision of the Saudi Ministry of Health to digitise the healthcare sector.” The digital health strategy issued by the Saudi Ministry of Health defines digital healthcare as a “cost-effective and secure use of information and communication technologies” that help people manage their health and wellbeing, by transforming the nature of healthcare delivery.
According to CHEManager International, the Mena pharmaceutical market was worth $36 billion in 2016, which represented 2 per cent of the global market. This relatively low starting base is now seeing projected growth of 10 per cent, vastly outstripping the current global growth rate of 4-6 per cent – even surpassing the traditional “pharmemerging” economies such as Brazil and China. and according to CPhI middle east & Africa; Pre-pandemic estimates valued the Mena pharmaceutical market at over $44 billion by 2023, with the Saudi market accounting for $10.7 billion or 24%
Issa Aghabi, managing partner of Access Bridge said: “Access Bridge backs promising startups like a Dawatech and supports them in their regional expansion to become category leaders. Dawatech will disrupt the healthcare sector by creating better efficiencies in the distribution of pharmaceuticals to end consumers. We are also helping Dawatech to penetrate Saudi Arabia and establish itself as a local player. This marks our 6th investment this year and hopes to continue to support great regional entrepreneurs."
Dawatech provides a cloud-based, SaaS pharmacy management ERP software that connects pharmacies, suppliers, and stakeholders through a single platform. Our user-friendly and efficient software will help you have control over your pharmacy’s in-house operations, inventory, sales, and more to enable you to increase profitability and productivity.