We are excited to share the exciting news of our alumni of the Global Cleantech Innovation Program Cambodia “PillTech”.
PillTech, the first B2B pharma platform dedicated to improving access to medicines through pharmacies in Cambodia, has announced a strategic investment from Sanofi’s Global Health Unit’s Impact Fund, this partnership marks the Impact Fund’s first investment in a Cambodian startup, underscoring the growing potential of the Cambodian startup ecosystem.
Date: 19 July 2024
Source: Kiripost
PillTech's innovative platform enables pharmacists to conveniently order their medication needs through a user-friendly app, addressing critical gaps in access to quality medicines. The investment from Sanofi not only provides financial support but also brings invaluable technical assistance aimed at enhancing workforce capacity and operational efficiency.
“Being the first startup in Cambodia to receive support from Sanofi’s Impact Fund is a testament to the readiness of Cambodian startups for multinational investment. This milestone highlights the importance of hard work and persistence, proving that there are no shortcuts to success,” said Vireak Khloth Chea, CEO and Co-founder of PillTech.
Beyond financial investment, mentoring from Sanofi will be provided, from warehouse management to strategies in business operations, strengthening PillTech's core team. Additionally, the Global Health Unit is committed to supporting the training of pharmacists through PillTech Academy, ensuring pharmacists are equipped with the knowledge to benefit their patients effectively.
“We are excited to partner with PillTech and its dedicated team.. PillTech shares our mission and vision of ensuring access to quality and affordable medicines for the Cambodian people, particularly in underserved areas. Through PillTech, we are committed to making a positive impact on the health and well-being of the people of Cambodia, and to help support their scale-up journey, ” said Jon Fairest, Head of the Sanofi’s Global Health Unit.
Sanofi’s Global Health Unit is a pioneering, not-for-profit social business model with a mission to improve the lives of underserved populations in 40 countries with the highest unmet medical needs through innovative inclusive healthcare models and partnerships, delivering sustainable impact.
In addition, this investment round also includes Choice Accelerator, led by Jennifer Lin. Jennifer's involvement is crucial, providing financial support precisely when it is needed most, further solidifying PillTech’s mission to enhance healthcare access in Cambodia.
This strategic investment marks a significant step forward for PillTech as it continues to expand its reach and impact within Cambodia's healthcare sector. The collaboration with Sanofi’s Global Health Unit and Choice Accelerator is set to drive further innovation, increase the team’s capacity through training, and improve the availability of essential medicines, ultimately contributing to better health outcomes for the Cambodian population.
