iEthico secures £625k pre-seed investment from Midven to expand team and platform testing.
Midven backed the pharmaceutical sourcing platform through the Midlands Engine Investment Fund.
iEthico operates a digital platform that connects pharmacists with global wholesalers to streamline pharmaceutical sourcing and address supply shortages. The company employs artificial intelligence to forecast supply chain challenges and improve access to medicines.
Pharmaceutical sourcing platform iEthico has secured £625k in pre-seed investment from Midven through the Midlands Engine Investment Fund. The capital will be deployed to expand headcount and finalize market testing for the company platform, while also serving as a cornerstone for an upcoming series A raise.
Operating in the healthcare sector, iEthico connects pharmacists worldwide with a network of wholesalers to reduce procurement times and mitigate drug shortages. The funding supports the firm as it develops predictive artificial intelligence tools designed to forecast supply chain vulnerabilities and improve patient access to treatments.
From the founder
"The investment from Midven enables us to help overcome these limitations, not only ensuring medicines supply in times of need but ultimately addressing inequality in access to medicines"
Debra Ainge
CEO at iEthico
Investor perspective
"Drug shortages are placing increasing pressure on pharmacists, and disrupting patients’ medical treatments, on a worldwide basis. MEIF investment will allow iethico to re-engineer the medicine procurement process, providing more reliable access to pharmacists and enabling better outcomes for patients."
Tony Stott
Investment Director, Midven
Use of funds
- 01Grow the team
- 02Continue product development
Investors
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About the company
iEthico
Digital platform streamlining pharmaceutical sourcing and predicting medicine shortages.