Vamstar today announced the close of its $9.5 million Series A funding round. Alpha Intelligence Capital (AIC) and Dutch Founders Fund (DFF) led the round, which also included existing investors btov Partners and Antler. With this announcement, the platform is uniquely placed on building resilience to future disruptions to UAE’s healthcare supply chain.
Vamstar will use this investment to accelerate market and product development plans, deploying Artificial Intelligence (AI) to enhance its consumables and generics exchange platform, improving data quality for faster e-commerce, and digitising procurement and sourcing processes for both buyers and suppliers across the industry.
“Healthcare supply chains are under tremendous pressure with ongoing crises like COVID-19, the war in Ukraine, and rising inflation,” said Vamstar founder and CEO Praful Mehta. “There is very little data available to help healthcare procurement managers and suppliers make decisions in real-time. At Vamstar, our goal is to empower supply chain professionals, clinicians, hospital administrators and their suppliers to collaborate in innovative ways to create meaningful relationships. It is only by enabling a shared vision for collaboration, fueled by better data and insights, that we can deliver greater value for all stakeholders and the wider community within the healthcare ecosystem.”
