* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, October 7, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Charlie Hunnam Reflects on Playing a Serial Killer in Monster: The Ed Gein Story – Yahoo

    Charlie Hunnam Reveals the Dark Challenges of Playing a Serial Killer in Monster: The Ed Gein Story

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    Why Taylor Swift Name-Dropped Elizabeth Taylor in Her New Album – Yahoo

    Here’s Why Taylor Swift Dropped Elizabeth Taylor’s Name in Her New Album

    Al Roker Gives Olivia Dean an Unexpected ‘New Job’ on the ‘Today’ Show – Yahoo

    Al Roker Shocks Olivia Dean with an Exciting New Role on the ‘Today’ Show

    Books about the arts and some haunts for a Denton October – Denton Record-Chronicle

    Uncover Artistic Treasures and Spooky Adventures to Experience in Denton This October

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Forget Cowbells. Cows Wear High-Tech Collars Now. – The New York Times

    Ditch the Cowbells: Discover the High-Tech Collars Transforming Cattle Care

    What the Recent Price Surge Means for Figure Technology Solutions After SEC Settlement – Yahoo Finance

    What the Recent Price Surge Reveals About Figure Technology Solutions Following SEC Settlement

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    A Tech Expo Shows What China Can Make, but Not Who’ll Buy It All – The New York Times

    Inside China’s Tech Expo: Cutting-Edge Innovations Face Uncertain Demand

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Charlie Hunnam Reflects on Playing a Serial Killer in Monster: The Ed Gein Story – Yahoo

    Charlie Hunnam Reveals the Dark Challenges of Playing a Serial Killer in Monster: The Ed Gein Story

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    Why Taylor Swift Name-Dropped Elizabeth Taylor in Her New Album – Yahoo

    Here’s Why Taylor Swift Dropped Elizabeth Taylor’s Name in Her New Album

    Al Roker Gives Olivia Dean an Unexpected ‘New Job’ on the ‘Today’ Show – Yahoo

    Al Roker Shocks Olivia Dean with an Exciting New Role on the ‘Today’ Show

    Books about the arts and some haunts for a Denton October – Denton Record-Chronicle

    Uncover Artistic Treasures and Spooky Adventures to Experience in Denton This October

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Forget Cowbells. Cows Wear High-Tech Collars Now. – The New York Times

    Ditch the Cowbells: Discover the High-Tech Collars Transforming Cattle Care

    What the Recent Price Surge Means for Figure Technology Solutions After SEC Settlement – Yahoo Finance

    What the Recent Price Surge Reveals About Figure Technology Solutions Following SEC Settlement

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    A Tech Expo Shows What China Can Make, but Not Who’ll Buy It All – The New York Times

    Inside China’s Tech Expo: Cutting-Edge Innovations Face Uncertain Demand

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Pharmarun wins $10,000 at Pitch2Win 2023. Here is what we know about the startup.

July 15, 2023
in Technology
Pharmarun wins $10,000 at Pitch2Win 2023. Here is what we know about the startup.
Share on FacebookShare on Twitter

At the third edition of Pitch2Win, an event that connects startups to investors, health-tech startup Pharmarun won $10,000 in equity-free investment. Here is all you need to know about the startup and its co-founders, who have also been friends for 20 years.

In less than five minutes, Teniola Adedeji convinced Kola Owodunni, Yuzuru Honda, Eloho Omame, Hiro Mashita, and Kola Aina, the five judges of Pitch2Win 2023, that her health tech startup PharmaRun was most deserving of the prized $10,000 equity-free funding. PharmaRun delivers medication on-demand to the doorsteps of customers.  It competed for this funding with 14 early-stage startups that pitched AI, blockchain, fintech, e-commerce, and logistics solutions at Pitch2Win, an annual event that aims to connect startups to potential investors.

This is not the first time Pharmarun has received external investment. In 2021, the same year it officially launched, the startup received an angel investment from Fedha Capital. But over a phone call, her best friend of 20 years and co-founder, Funmilola Aderemi, told me that Teniola had registered “Pharmarun” as a business name since 2016.  By that time, Teniola had rounded up an investment banking internship at Bank of America Merrill Lynch and was working as a pharmacist at the National Food and Drug Commission (NAFDAC). Amused at the recollection of what now looks like a self-fulfilling prophecy, Teniola responded, “I just thought the name was really cool. I wanted to own a pharmacy of my own and call it that someday.”

Pharmarun started out as a labour of love. “Too often, I heard people talking about how only pharmacies situated on the island [a more bourgeois part of Lagos and miles away from the mainland] had a medication that they needed,” recalls Teniola. Working at a pharmacy herself, she witnessed the frustration of customers when her workplace ran out of stock for a particular drug. Teniola took it upon herself to assist customers in finding the medication elsewhere, even extending her help to family and friends. As word spread, people started reaching out to her on WhatsApp, asking her to locate specific drugs and deliver them.

The demand for her assistance increased significantly during the COVID-19 pandemic when movement restrictions made it even more challenging for individuals to access pharmacies. “That was when I realised that this could grow into a business,” Teniola reflects. She sought the assistance of her friend, Funmilola, who at the time was a senior product manager at a logistics company, MAX. Late-night calls became a regular occurrence as they collaborated on designing various aspects of the web platform where customers could order.

Image source: Technext

Teniola disclosed that they had been concerned that no one would trust them enough to make payments on the website until they had their first paying customer. She had previously operated primarily through WhatsApp and relied on word-of-mouth referrals. To instil confidence in potential clients, the website was designed to include features such as “Speak to a pharmacist”, to assure users that real people were behind the platform. Pharmarun’s customer base has expanded to include individuals, hospitals that need to send refills of prescriptions to their patients, as well as insurance companies seeking to ensure timely refills for their policyholders.

The business’s needs grew with time, so Teniola began to search for a co-founder to lead Pharmarun with her full-time. Even though Funmilola was spending plenty of time helping her with the product, Teniola was hesitant to ask her to leave her full-time job at MAX. But she eventually did, and her best friend said yes to becoming her co-founder. Flashing back to that moment, Funmilola said, “It felt natural and almost like a promotion from a consultancy position to a co-founder position. Moreover, I enjoyed working on the product with Teniola, and like her, I was also passionate about the problem.” Teniola, with seven years of experience as a pharmacist and pharmacy operations manager, is the CEO of the startup, while Funmilola, due to her years of experience in product management, is the Chief Product Officer.

Going the extra mile

Both co-founders believe that Pharmarun needs to be more than a drug store. “If people know where to find a drug but do not have any money to buy it, they still lack access to medication,” Teniola mused on a call with me. Pharmarun also finances medication for its customers through embedded buy-now-pay-later (BPNL) services. “Through partnerships with some BNPL companies, customers who are out of cash to pay can still access medication.” Because the BNPL services are embedded at the checkout, they are not run on the balance sheet of Pharmarun, so the startup doesn’t need to work on recovering the loan from customers. 

Pharmarun’s operational model may evoke comparisons to Jumia, as users can simply place an order and have medications delivered to their doorsteps. However, unlike Jumia’s platform, users do not have to choose from an array of pharmacies like Medplus. When customers search for a specific drug on the Pharmarun platform, it assists them in finding the best price from any pharmacy that has the desired quantity of medication. “This is why we are onboarding as many legitimate pharmacies as we can,” Teniola said. Currently, Pharmarun collaborates with over 80 pharmacies across the country, with a significant presence in cities such as Lagos, Abuja, Port Harcourt, Ibadan, and Uyo. It is working on partnering with more pharmacies.

Nevertheless, the process of onboarding these pharmacies has not been without challenges. Adedeji highlighted the stringent onboarding process to ensure compliance with industry standards, ensuring user protection. Additionally, many of these pharmacies are not tech-savvy, necessitating training on the web platform used to fulfil orders. Overcoming these obstacles is crucial as Pharmarun actively works to expand its network of partner pharmacies. During her pitch, Teniola mentioned the need for significant funding, estimating up to $500,000, to facilitate the onboarding of more pharmacies.

Staffing also posed a significant hurdle as the customer base grew. Teniola acknowledged the difficulty of finding individuals with the necessary skills and shared passion. Despite the challenges, Pharmarun has grown from its humble beginnings with Teniola and her best friend and co-founder Funmilola to a team of 15 dedicated staff members.

“We are going beyond medication,” Funmilola said to me. Pharmarun envisions a broader impact, particularly for communities that seem isolated from urban communities like Makoko in Lagos. “We are building Pharmarun to be able to deliver all essential medical health products to those in need. Even beyond Nigeria, because what we have is a very replicable solution. In five years we will be working either independently or through collaborations, to address healthcare challenges across African countries,” she concluded.

The other 14 startups that competed alongside Pharmarun at the Pitch2Win 2023 competition include blockchain and ed-tech startup Akowe, health-tech startup Primed E-Health, fintech startup Tyms Africa, mobility tech startup Motor Africa, B2B fintech startup Bridger, e-commerce startup Check Retail, blockchain powered fintech startup Crunch Network, fintech startup Oystr Finance, blockchain startup DIAGON STUDIOS LTD, cloud infrastructure startup PipeOps, AI startup ZeroComplex AI, blockchain startup Centiiv, logistics startup Shiip, and health tech startup Uburu Health.

ZeroComplex AI, an AI startup dedicated to streamlining the integration of AI into existing applications was the runner-up in the competition. Oystr Finance which facilitates easy access to alternative financial data, creditworthiness assessment, and borrower identification verification came third.

Get the best African tech newsletters in your inbox

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TechCabal – https://techcabal.com/2023/07/15/pharmarun-wins-10000-at-pitch2win-2023-here-is-what-we-know-about-the-startup/

Tags: PharmarunPitchtechnology
Previous Post

House of reps oppose CBN’s social media KYC requirement

Next Post

Scientists Decode Ancient Script That Has Puzzled Scholars for 70 Years

Ecology blazing the trail for more clean energy projects – Washington State Department of Ecology (.gov)

How Ecology is Powering the Shift to a Greener Energy Future

October 7, 2025
Penn State Brandywine Earth sciences professor earns two national awards – Penn State University

Penn State Brandywine Earth sciences professor earns two national awards – Penn State University

October 7, 2025
UNESCO and CODATA launch resources on open science for crisis response – unesco.org

UNESCO and CODATA Launch Innovative Open Science Tools to Enhance Crisis Response

October 7, 2025
New Engen Report Identifies Key Trends and Winning Strategies for Active Lifestyle Brands in 2025 and Beyond – Fitt Insider

New Engen Report Identifies Key Trends and Winning Strategies for Active Lifestyle Brands in 2025 and Beyond – Fitt Insider

October 7, 2025
ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

October 7, 2025
Seahawks’ defensive depth being challenged as injuries stack up – FOX Sports

Seahawks’ defensive depth being challenged as injuries stack up – FOX Sports

October 7, 2025
World Mental Health Day Festival and gala set for this week in NYC – MSNBC News

World Mental Health Day Festival and gala set for this week in NYC – MSNBC News

October 6, 2025
Green economy means jobs for NJ, report says – NJ Spotlight News

Green economy means jobs for NJ, report says – NJ Spotlight News

October 6, 2025
Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

October 6, 2025
Republicans are holding Americans’ health care hostage — and lying about it – MSNBC News

How Republicans Are Holding Americans’ Health Care Hostage – and Deceiving the Public

October 6, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (855)
  • Economy (875)
  • Entertainment (21,749)
  • General (17,452)
  • Health (9,917)
  • Lifestyle (888)
  • News (22,149)
  • People (877)
  • Politics (886)
  • Science (16,086)
  • Sports (21,376)
  • Technology (15,856)
  • World (858)

Recent News

Ecology blazing the trail for more clean energy projects – Washington State Department of Ecology (.gov)

How Ecology is Powering the Shift to a Greener Energy Future

October 7, 2025
Penn State Brandywine Earth sciences professor earns two national awards – Penn State University

Penn State Brandywine Earth sciences professor earns two national awards – Penn State University

October 7, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version