Bangladeshi healthtech startup Arogga has completed its seed funding round to enhance access to genuine, affordable medication in Bangladesh.
The successful funding round will enable them to expand their operations and make a positive impact on healthcare accessibility in Bangladesh.
With this funding, the startup is set to scale up its operations and reach more people in Bangladesh, making a substantial impact on public health.
The startup successfully secured $4m in new capital, building on the $1.5 million raised the previous year.
This funding round was led by The Venture Collective (TVC), a venture capital firm based in the US, with participation from several other investors, including The Blue Collective (US), Iterative (Singapore), Stella Maris Partners (Mexico), as well as returning investors Ratios Ventures (UK), Sketchnote Partners (Spain), and Epic Angels (Singapore).
Notably, local Bangladeshi investors IDLC Finance and Startup Bangladesh Limited, are also investors in Arogga.
Commenting on the investment, Cat Middleton, partner at TVC said: "Bangladesh is on track to become a trillion dollar economy by 2040 making now the opportune time for a company like Arogga to build upon its early success of delivering 11 million medications to becoming the go-to, comprehensive healthcare platform in the country."
Founded by Rosina Mazumder (CEO), Fahad Hossain (COO), Shamim Hasan (CTO) and Yawar Mehboob (CFO) in December 2020, Arogga plans to use the new funding to deepen its operations in Bangladesh.
Rosina Mazumder, co-founder and CEO at the startup, said: “At Arogga we are in relentless pursuit of our vision, and our core objective for the forthcoming year is to develop into a holistic health super app that gives access to good healthcare for the people of Bangladesh, evolving beyond online pharmacy to encompass a spectrum of healthcare services like lab testing and doctor consultations. The priority remains on increasing penetration in the capital Dhaka, and also expanding hubs to two other major cities by Q2 2024.”
Epic Angels, also followed on in the round, having invested back in 2021 with their first ever portfolio investment being in Arogga.
Maaike Doyer, founder of Epic Angels said: “From our very first interaction, Epic Angels, as the largest global female-only investment collective investing in APAC, recognized the unparalleled drive and vision of Arogga, steered confidently by their female CEO. Arogga's story with Epic Angels began in 2021. Today, with our follow-on investment, that leap has propelled Arogga to be our largest investment, reflecting their undeniable growth and relentless commitment to health innovation.”
The Arogga App is a comprehensive health solutions platform designed to provide you with a wide range of genuine medicines and healthcare products. It offers a user-friendly search feature that allows you to quickly find the products you need, with detailed information about each medicine to help you make informed health decisions.
Additionally, the app includes a "Compare" function, which lets you discover similar medicines from different companies and make easy product comparisons.
If you have questions or need assistance, the "Chat" button allows you to connect instantly with the customer service team.
Ordering medicines with a prescription is made effortless with the "Prescription" button.
You can simply take a picture of your prescription, upload and a call back will made to confirm you order.
For medicines not available in their inventory, the "Request Medicine" feature allows you to request specific items, and you'll receive notifications when they become available.
Arogga has made significant strides in Bangladesh, serving more than 600,000 users and achieving an eightfold increase in revenue since 2021.
The platform offers over 32,000 medicines and healthcare products from over 500+ manufacturers.
Additionally, Arogga is launching a home lab testing service in November, further enhancing convenience and accessibility to critical healthcare diagnostics.
