Dropmed completes second funding round to digitalize medical shopping
Swedish medical marketplace Dropmed has completed a second funding round of an undisclosed amount to digitalise medical shopping.
Founded in 2019, Dropmed is Sweden’s first independent marketplace where people can buy medical equipment. It utilizes innovative technology to automate the medical market.
According to the Järfälla-based marketplace, navigating the healthcare market was difficult for consumers in the past. They needed to sift through suppliers and hundreds of thousands of medical products. Eighty percent of these products were only obtainable in offline stores, which made shopping challenging.
Enter Dropmed provides cost transparency for consumers, enabling them to make informed decisions in buying various health necessities. In addition, there are also opportunities for consumers to get discounted prices on the platform.
Suppliers also benefit from using Dropmed as the platform helps attract customers. The marketplace also enables suppliers to digitise their sales processes to simplify pricing. Digitisation also means that suppliers can spend less time dealing with the administrative side of the business.
“We have a unique position”
Co-founder and CEO Sebastian Brieger explained that the startup would integrate quick and most advanced purchases into its platform via a guided user experience.
“Being independent, we have a unique position,” Brieger said. “We’re building the largest product portfolio available and aim at becoming the go-to place for finding what you need fast.”
Sting alumni Tommy Forsell and tech firm Mainly.AI led the funding round. Diamond Head and health tech investment firm Curus — both deeply rooted in the medical tech industry — also participated in the capital raising.
Curus CEO Johan Bloom said his company had joined Dropmed’s funding round because it recognised the need for a digital marketplace specialising in medical tech products. Bloom explained that the Dropmed team displayed an understanding of the Nordic medical market through its user-friendly platform.
Dropmed plans to have another funding round this March to develop the platform further.
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