13 months after coming up as one of the winners of the Microsoft – GreenHouse Scale-Up Accelerator Program, PharmaRun has emerged winner of the third edition of the Pitch2Win event. The award means that the health-tech startup will receive $10,000 in equity-free investment.
At Pitch2Win, an annual event that seeks to connect entrepreneurs with possible investors, PharmaRun competed for this investment with 14 other early-stage startups by pitching AI, blockchain, fintech, e-commerce, and logistics solutions.
Teniola Adedeji wowed the judges—Kola Owodunni, Yuzuru Honda, Eloho Omame, Hiro Mashita, and Kola Aina—in an excellent presentation that lasted less than five minutes, persuading them that Pharmarun was deserving of the sought-after $10,000 financing.
The $10,000 pitching program for the Pitch2Win competition, known for highlighting the most promising entrepreneurs in the Web2 and Web3 industries, was released one week before the event. The goal of this project was to find novel approaches to pressing problems that would result in progress.
Teniola Adedeji and Funmilola Aderemi founded PharmaRun in 2021, and their capacity to circumvent the restrictions of traditional pharmacies perplexed the audience. Adedeji and Aderemi, who have been lifetime friends for more than 20 years, were aware of the widespread problem of pharmacies frequently experiencing stock shortages, which leaves clients with few options.
We live in the boundaries of our bustling metropolis like Lagos and Abuja, blind to the challenges faced by places like Jigawa, which has only two pharmacies, Adedeji argues. As a result, we get orders from everywhere in the nation. This information highlights the critical need for a dependable and approachable platform like PharmaRun that may close the accessibility gap between underserved areas and vital pharmaceutical supplies.
PharmaRun’s resounding success may be ascribed to several things, including the huge market opportunity it offers, its flexible payment options, including Buy Now, Pay Later (BNPL), the scope of the issue it solves, and the outstanding execution by its talented staff. We had never pitched to an audience before, so our success is all the more amazing, Adedeji exclaims, beaming with joy. It offers unequivocal support for our scalable solution and the unquestionable potential we have. Is it winning against established founders? Everything about it is astonishing.
Soon, PharmaRun intends to raise $500,000 for business expansion and product development. The victory at Pitch2Win has not only confirmed their concept but also catapulted them into the limelight, giving them access to potential investors and visibility never before possible.
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