Phlo Secures £10M Series A Funding to Propel Digital Pharmacy Expansion

February 2, 2023

Phlo Secures £10M Series A Funding to Propel Digital Pharmacy Expansion

Scottish digital pharmacy startup Phlo has recently secured an impressive £10 million in Series A funding, a significant milestone that underscores the growing demand for digital healthcare solutions. This round of funding, led by Thairm Bio with support from Scottish Enterprise and several angel investors, will fuel Phlo's ambitious expansion plans across the UK. The infusion of capital will also enable the company to further enhance its innovative offerings, particularly its flagship products - Phlo Digital Pharmacy and Phlo Connect.

Phlo, founded in Glasgow in 2019, has quickly emerged as a pioneer in the digital pharmacy space. Their Digital Pharmacy platform facilitates same-day medication deliveries, allowing patients to conveniently track their prescriptions through a user-friendly smartphone app. The service caters to both NHS and private healthcare providers, offering seamless one-off and repeat prescription deliveries while providing timely reminders to ensure patients never run out of medication.

Moreover, Phlo's digital pharmacy API, Phlo Connect, serves as a vital integration tool for healthcare providers like Babylon and HealthHero. This innovative solution enables the seamless exchange of digital prescriptions and real-time patient updates, addressing the evolving needs of a rapidly digitising healthcare landscape.

Nadeem Sarwar, the founder and CEO of Phlo, expressed gratitude to both existing and new investors for their support, emphasising the pivotal role this funding will play in realizing Phlo's vision of becoming the market leader in next-generation digital pharmacy services nationwide. Sarwar highlighted the company's commitment to improving healthcare outcomes and enhancing patient access through continuous innovation and expansion.

Mark Bamforth, founder of Thairm Bio, commended Phlo's dedication to driving positive change in the pharmacy sector. He praised Phlo's innovative approach, which prioritizes patient and clinician needs, ultimately empowering both healthcare providers and patients alike.

The significance of this investment extends beyond Phlo's growth trajectory. It reflects a broader trend towards digital transformation within the healthcare industry, particularly in pharmacy services. With traditional brick-and-mortar pharmacies facing challenges such as supply chain disruptions and workforce shortages, the demand for digital solutions has never been greater.

Phlo's Digital Pharmacy has already made significant strides, offering same-day medication delivery services in Birmingham and London, with plans for further expansion into Manchester in 2023. The platform's user base continues to grow steadily, with over 110,000 orders delivered since its inception in 2020, a testament to its effectiveness and popularity among patients.

In addition to its consumer-facing services, Phlo Connect plays a crucial role in accelerating the digitization of pharmacy services. By providing a robust digital infrastructure, Phlo empowers healthcare providers to offer comprehensive digital pharmacy solutions seamlessly. This not only enhances operational efficiency but also improves patient experiences by streamlining prescription management and delivery processes.

Looking ahead, Phlo is poised for further growth and innovation, fueled by this latest round of funding. With a clear focus on expanding its reach, forging strategic partnerships, and delivering impactful healthcare solutions, Phlo is well-positioned to shape the future of digital pharmacy services in the UK and beyond.

In conclusion, Phlo's successful Series A funding marks a significant milestone in the evolution of digital healthcare, signaling a promising future for innovative solutions that prioritize accessibility, convenience, and patient-centric care. As the company continues to scale its operations and solidify its position as a market leader, the impact of its transformative approach to pharmacy services is poised to reverberate throughout the healthcare industry, ultimately benefiting patients and providers alike.

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