UK prescription delivery app Echo has raised £7 million in a Series A round led by White Star Capital with participation from MMC Ventures, LocalGlobe, Global Founders Capital, Rocket Internet, and Public.io.
Echo’s app allows people to re-order their prescriptions from NHS GPs and have them delivered for free with reminders for adhering to their prescription. The company has a network of partner pharmacies.
According to the company, the NHS spends nearly £18 billion a year on medication but between a third and a half of that medication is not taken as recommended. This apparent lack of adherence has led startups like Echo and Finland’s Popit, which raised €1.2 million in August, to develop hardware and software solutions to help people stay on their medication.
“As someone who uses inhalers to manage my asthma, Echo has simplified a confusing and fragmented monthly chore,” said CEO Sai Lakshmi. “With these funds we plan to invest in further R&D, build out our engineering team and scale the business, working with colleagues across the NHS and primary care.”
As part of the investment, Christian Hernandez from White Star Capital will join the company's board.