Stockholm-based startup that offers online pharmaceutical marketplaces for Southeast Europe, Apotekamo has raised €2.5 million in funding on a pre-money valuation of €14.6 million. Key investors in the round include angel funder collective Angelgate and FC Bayern Munich’s sporting director, former Bosnian professional footballer Hasan “Brazzo” Salihamidžić.
The funding will be used for geographical expansion, marketing activities, and the development of the company’s logistics solution.
The portfolio company of Swedish venture builder EPTI, Apotekamo was launched in Serbia, and expanded to Bosnia and Herzegovina during the first quarter of 2022, following the acquisition of a local pharmacy. The online pharmacy is focusing on Southeast Europe. In addition to a range of both over-the-counter and prescription drugs, the company also provides digital services regarding order processing and payment solutions for external suppliers on the platform.
Arli Mujkic, CEO and founder of EPTI, said: “The company is a typical EPTI case, where we are involved in launching, developing, and upscaling a niche player on a digitally immature market. Apotekamo has made great operational progress over the past year and has seen strong growth in both returning customers and orders.”
Hasan Salihamidžić, sporting director of Bayern Munich, added: “The company has a proven concept in other markets, so it is only a matter of time before the same applies to the rest of Europe. I see a great opportunity to strengthen the healthcare market in my home region and look forward to supporting the company in various marketing activities.”
Srdjan Milic, CEO of Apotekamo, concluded: “It feels great to find common ground on our vision to do good for society and simultaneously become the leading online pharmacy in Southeast Europe. During the first half-year period of 2022, Apotekamo increased its order intake by 740 percent compared with the corresponding period last year.