Digital pharmacy startup medino raises £5.6m

Digital pharmacy startup, medino, has raised £5.6m in its latest funding round.

The ‘Pharmacy In Your Phone’ concept currently supports 130,000 people to date by digitising pharmacy shopping.

In January 2020 the company raised £440k to challenge the pharmacy in your phone market, by offering ‘enhanced packing and picking processes for instant dispatch, bespoke algorithmic pricing and buying tools to provide competitive prices’.

The company said it has grown 600% this year and aims to uses the investment to support further growth.

Lars Elfversson, CoFounder of medino, said: “We have seen how our service has not only managed to cope with increasing demand but the testimonials from customers shows that fast, reliable and safe deliveries of pharmacy products is here to stay.”

“With this funding, we will accelerate our growth and promote our service to the masses. We are excited to be at the forefront of the digitisation of pharmacy shopping.”

Christian Jakobsson, medino’s Managing Director, states that: “This year has been challenging for us all and the surge in utilising digital services for everyday shopping has been seen across multiple retail verticals. We are proud to have been able to help tens of thousands of customers who have had to isolate and the growth we’ve seen is a testament to our team and the service we provide.”

The company has recently expanded its product offering to over 5000 health, well-being and pharmacy products.