PBR Life Sciences, a healthcare data analytics company with backing from Techstars, has successfully raised $1 million in pre-seed funding. The fresh capital will fuel the company’s efforts to enhance its AI infrastructure and expand its footprint into Ghana and Kenya, signalling a significant step forward for the firm.
The funding round attracted notable investors, including Launch Africa, Microtraction, Kaleo Ventures, Octerra Capital, Marula Square, XA Africa, ARM Labs, and Techstars. These partnerships underscore the growing interest in leveraging data analytics to tackle healthcare challenges across Africa.
Originally established in 2015 by Ayodeji Alaran, PBR underwent a pivotal transformation in 2021, shifting its focus to big data and analytics. Today, the company delivers invaluable insights to multinational pharmaceutical companies like Sanofi, aiding them in pricing strategies, demand forecasting, and product development tailored to African markets.
One of the key challenges faced by pharmaceutical companies is managing overproduction caused by a lack of accurate market demand data. PBR addresses this by collecting anonymized data from pharmacies, including details on drug quantities, pricing, and purchase frequencies. This data enables pharmaceutical firms to optimize their production processes and better meet actual market needs.
Through its advanced AI-powered analytics dashboards, PBR provides pharmaceutical companies, consulting firms, NGOs, and multilateral agencies with critical insights into market shares, consumption trends, and other key metrics across Nigeria and Ghana. The company’s generative AI feature allows users to pose specific questions and instantly receive analytics, further enhancing their decision-making capabilities.
As AI-driven drug discovery gains traction in the pharmaceutical industry, there is a growing need for localized data to include African patients in clinical research. PBR tackles this gap by offering unique data points on African populations and collaborating with patients during clinical trials. Looking ahead, the company plans to integrate blockchain technology to ensure the anonymization and randomization of healthcare data, while expanding operations to 10 additional African countries.
“Having the support of some of the most respected venture capital investors and angels in Africa motivates our team to push boundaries and underscores the critical importance of bridging the gap in real-world, healthcare big data,” said Alaran. “This data is essential for driving AI innovation in the sector and unlocking global growth in life sciences, fuelled by the African region.”
PBR’s impressive growth trajectory is evident in its 200% revenue increase since 2023, although specific figures remain undisclosed. The company’s client roster includes industry leaders such as Sanofi, Emzor, Roche, the International Finance Corporation, and Mercs. Competing with established players like IQVIA and Sanisphere, PBR generates revenue through subscription services, independent report sales, and consulting.
As a member of the second cohort of the ARM Labs Lagos Techstars Accelerator program, PBR Life Sciences continues to solidify its position as a pioneer in healthcare data analytics, driving innovation and addressing critical gaps in Africa’s healthcare landscape.
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