Pharmarun, a health-tech startup focused on providing on-demand medication delivery, emerged as the winner of a $10,000 equity-free grant at the 2023 Pitch2Win competition. Competing against 14 innovative startups offering solutions across sectors like AI, blockchain, and logistics, Pharmarun captured the judges’ attention with its impactful pitch.The startup was co-founded by Teniola Adedeji, a licensed pharmacist, and Funmilola Aderemi, a product management expert. Their journey began during the COVID-19 pandemic when limited mobility highlighted the need for easier access to essential medications. Pharmarun now serves a growing customer base that includes individuals, hospitals, and insurance companies, ensuring timely delivery of prescriptions and refills.
How It Began
What started as an informal service in 2016 evolved into a full-fledged business by 2021. Adedeji, motivated by her experiences as a pharmacist, observed recurring frustrations from customers struggling to locate specific medications. These challenges inspired her to simplify the process, first through word-of-mouth referrals and WhatsApp, and later by developing a dedicated online platform.Collaborating with Aderemi, a longtime friend, Adedeji created a web platform where users can search for medications, compare prices, and place orders for doorstep delivery. Their vision was further validated when Pharmarun secured angel investment shortly after its official launch.
The Unique Edge
Pharmarun distinguishes itself through its integrated “Buy-Now-Pay-Later” (BNPL) services. This feature enables customers to access medications even when they face financial constraints, thanks to partnerships with third-party BNPL providers. Additionally, Pharmarun collaborates with over 80 pharmacies nationwide to ensure competitive pricing and availability.The platform also addresses a broader range of healthcare needs, positioning itself as more than a mere drugstore. Its founders emphasize accessibility, aiming to deliver essential medical products even to remote communities.
Overcoming Challenges
Scaling the business has not been without its hurdles. From recruiting skilled staff to onboarding tech-savvy partner pharmacies, Pharmarun has faced its share of challenges. Despite these obstacles, the startup has grown to a team of 15 employees and continues to expand its reach across Nigerian cities like Lagos, Abuja, and Port Harcourt.
Future Outlook
Pharmarun’s ultimate goal is to transform healthcare delivery across Africa. With plans to expand its services to underserved regions and collaborate with other healthcare organizations, the startup envisions a future where access to essential medical products is no longer a barrier.
Other startups competing at Pitch2Win 2023 included AI-focused ZeroComplex AI (runner-up) and fintech innovator Oystr Finance (third place). These ventures, alongside Pharmarun, showcase the vibrant entrepreneurial spirit driving innovation across Africa.
