Nigerian healthtech startup, RxAll has been selected into Founders Factory Africa’s Venture Scale programme.
RxAll will participate in the six-month bespoke programme and receive investments in cash and tailored support services.
Speaking on the investment, Roo Rogers, CEO of Founders Factory Africa (FFA) said:
Counterfeit medication is a global health crisis. Its effects can be seen across the global healthcare ecosystem with over 1 million people dying globally per year. RxAll offers a unique, simple, and precise solution with its RxScanner device. FFA is excited to support RxAll’s growth and impact by delivering investment, network, and growth with Adebayo Alonge and his team.
RxAll verifies the authenticity of drugs using artificial intelligence and machine learning. The company joins other African healthtech startups including WellaHealth (Nigeria), EDAI (South Africa), LocumBase (South Africa), Akili Labs (South Africa) and RedBird (Ghana) as part of FFA’s Africa portfolio.
Commenting on the project, CEO of Netcare Group Richard Friedland said, “RxAll is an exciting venture that allows patients to have better access to high-quality medication and pharmacies to access authenticated medication.”
RxAll was founded in 2016 by Adebayo Alonge, Amy Kao and Wei Liu. Adebayo Alonge, a Nigerian Pharmacist, invented the world’s first drug authenticator called RxScanner.