Digital pharmacy platform raises £10 million in Series A funding

Phlo, a digital pharmacy specialist, has raised £10 million in a Series A funding round, led by Thairm Bio.

The company plans to use the investment to support its growth plans, develop partnerships and to scale operations.

Its platform, Digital Pharmacy, offers same-day private and NHS prescription delivery to patients in London and Birmingham, and now plans to launch in Manchester in 2o23.

The investment round led by Thairm Bio, was supported by Scottish Enterprise and a number of other high-profile angel investors.

Mark Bamforth, founder of Thairm Bio, said: “Phlo’s dedication to building innovative digital solutions that put patients and clinicians at the heart of what they do is key to driving positive change in the sector, empowering patients and healthcare providers. On behalf of Thairm Bio, I am proud to support Phlo and personally excited to see what the team achieves in the next stage of their journey.”

Kerry Sharp, director of entrepreneurship and investment at Scottish Enterprise, added: “With Scottish Enterprise investment, the company can scale up operations and expand its services into new markets.”

Nadeem Sarwar, Founder and CEO of Phlo, explained: “The investment raised will help support our expansion across the UK and allow us to continue developing our Phlo Digital Pharmacy and Phlo Connect offering to improve healthcare outcomes. This round of investment is particularly crucial in helping us scale our offering and realising our vision of establishing Phlo as the market leader in the delivery of next-generation digital pharmacy services right across the UK.

In recent investment news, last week HTN reported on DrDoctor raising £10 million in Series B funding.