Growth7 February 2024

Charac secures Series A funding from Traditum to expand its pharmacy digitisation platform.

Private equity firm Traditum has backed the healthcare software provider in its fourth funding round.

£4.0MGrowth

Charac provides a cloud-native software platform that integrates with the NHS to streamline operations and digitise independent pharmacies. Total funding has reached roughly £4m following its latest financing round.

Healthcare software provider Charac has secured a Series A investment from private equity firm Traditum to enhance its pharmacy platform and accelerate international expansion. The transaction brings the company's total funding raised to approximately £4m across four rounds.

Traditum invested in the business following the launch of the Pharmacy First scheme in England, which directs patients to local pharmacies for minor ailments. Charac provides a cloud-native platform integrated with the NHS that enables pharmacists to manage repeat prescriptions, access patient records, and conduct consultations.

From the founder

"The investment from Traditum is an endorsement of our mission to transform independent pharmacies through digitising the sector. Our goal is ultimately about providing better primary care for communities and enabling healthcare professionals to do so more effectively. With this backing we are positioned to expand our international reach as well as our capabilities to enhance the quality of care our customers can provide to patients."

Santosh Sahu

CEO at Charac

Investor perspective

"Independent pharmacies are facing a real challenge. Charac's technology will help to safeguard their future while at the same time helping them play a more active role in delivering services and relieving pressure on the NHS. This investment is in line with Traditum's strategy to invest in digital technology to enhance delivery of primary and secondary care for the benefit of the community and NHS."

David Mitchell

CEO, Traditum