1000Farmacie has just announced to have closed a 1.5 million euro investment round, underwritten by industrial groups, investors, such as Fin Posillipo Spa and Healthware Ventures.
Founded in 2019 with the aim of connecting the best Italian pharmacies, with their respective warehouses, to provide users with the possibility to choose from a wide range of products at the best price and receive them directly at home through the delivery service, the startup has already expanded its mission, perhaps thanks to the Covid emergency that has highlighted the full potential of digital health.
“The current healthcare experience is extremely fragmented, resulting in inconvenience for the end customer. 1000Farmacie aims to unify the digital healthcare experience: from the acquisition of reliable information online to the delivery of medicines at home in a few hours, via teleconsultation and diagnostic tests. Our platform brings together about 100 authorized pharmacies in a synergistic way, with the aim of offering consumers the largest assortment available and the possibility to safely buy online directly from trusted pharmacies”, said CEO Nicolò Petrone, named among the Under 30 of Forbes Italia and previously head of the fintech platform goMedici.com.
The online pharmacy market is growing strongly in Europe and is estimated to reach $10.88 billion in 2023. In particular, the Italian market offers great opportunities for growth as the online pharmacy could be the answer to a fragmented market, favouring its digital transformation while offering consumers a greater choice of products. 1000Farmacie is positioned in this specific setting, offering pharmacies, para-pharmacies and other healthcare players a technological platform to turn their business model into a digital integrated channel, both for the sale of authorized products with the CE guarantee mark and the offer of services.
The new investment round will allow the startup to keep investing in product development and strengthen its market position. “1000Farmacie represents a digital health service with high growth potential and a significant digitalization opportunity for the Italian pharmaceutical sector” – said Roberto Ascione, CEO of Healthware Group and President of Healthware Ventures. “The platform, which to date already brings together hundreds of Italian pharmacies, aims to offer an integrated digital health experience while ensuring that the pharmacist-consumer relationship keeps on being based on trust and reliability”.
During the months of lockdown due to the Coronavirus emergency, the startup has promoted several social responsibility initiatives including the distribution in Milan of free masks to the riders of Deliveroo, thus supporting those who have been engaged in an essential service such as home delivery of food.All rights reserved