Jordan based B2B healthcare marketplace, Aumet announced that it has been able to raise six-figure pre-Series A funding that will help Aumet accelerate its growth across the region and prepare for a strong Series A at the beginning of next year.
The company has managed to disrupt and digitize the healthcare supply chain in the MENA region by bridging the gap between regional healthcare providers and distributors as well as global manufacturers and distributors.
Aumet aggregates bulk orders from healthcare providers to get discounted prices from manufacturers and deliver the goods door-to-door. The company has become a defacto market leader, and currently powers 80% of the Jordanian market, with more than 3,000 pharmacies using its marketplace platform. Recently, Aumet has been aggressively expanding into the UAE, KSA, and Egypt.
Pharmacies use Aumet’s end-to-end solution to seamlessly order online, connect with their suppliers in real-time, and manage their inventory. It also provides ERP integration to distributors where they can display catalogues, automate workflow for pharmacy credit lines, and optimize stock management. The platform processes thousands of orders on a daily basis with a transaction value at a $120M annual run rate.
It uses AI to index more than 50,000 manufacturers onto its platform and leverages data to provide insights on all counterparts in the healthcare value chain.
Yahya Aqel, Aumet’s CEO and Co-Founder commented, “A startup’s journey will always be filled with ups and downs. What is crucial for every founder is to surround the company with partners that can support you during the downs and propel you further during the ups. With Shorooq, we have been fortunate enough to find just that.”
The startup has also been backed by global reputable investors, such as Right Side Capital and Techstars, who participated in Aumet’s Seed round. The new funds will help Aumet accelerate its growth across the region and prepare for a strong Series A at the beginning of next year.
Mahmoud Adi, Founding Partner at Shorooq Partners said, “Last year highlighted the fragility of the global healthcare supply chain. Despite being a crucial component for our wellbeing and health, it is still deeply undigitized and as a result unorganized. We believe Aumet has phenomenal potential to solve this problem and create value on a global scale.”
