South African pharmaceutical pharmaceutical company PharmaScout has secured the financing of the A series of Knife Capital to speed up the introduction of products and develop new ones in the international market.
PharmaScout, the solution for an accurate solution developed by Internet of Things (Internet of Things) by Internet of Things (IoT) 5nines Technologies, helps health professionals mitigate legal risk and meet safety and quality standards of stored pharmaceuticals products of temperature sensitive.
So far, it has been funded by an angel, but has since received an unpublished series of A series funding Knife Capital, a venture capital firm with offices in Cape Town and London. Knife Capital is investing through a consortium of financing partners, including SARS section 12J Venture Capital KNF Ventures and select family offices.
The financing will be applied to accelerate the introduction of products into pharmacies, medical personnel and pharmaceutical stores and improve the development of new products for the international market.
PharmaScout has already gained significant traction with blue chip buyers, such as Clicks and Alpha Pharm, while pilots with local hospital groups. He also started research and development activities to provide food chain products that are applied to the retail, catering and catering industry.
"There are several problems with the pharmaceutical quality and safety of more important than those related to the storage and handling of temperature sensitive products. PharmaScout and its related product line deliver the most appropriate and cost-effective way of meeting professional responsibility and legal burden of monitoring temperature compliance in South Africa, said Doug Siepman, CEO and co-founder of 5Nines.
"We are pleased to partner with Knife Capital at this stage of our growing journey. The team brings rich experience and networks to access the business market we have already started to type."
Keet van Zil, an investment partner at Knife, said PharmaScout was an exciting investment opportunity.
"It contains all the elements we are looking for in a portfolio company. There's a striking investment case supported by occasional revenue, great people with performance capabilities that lead to proven pulling and intellectual property elements that make technology scalable," he said.
"Macro factors in the industry, such as increased legislation and verifiable but affordable standards of medical compliance, also play in the favor of PharmaScout."