Vamstar, a London, UK-based provider of an AI-enabled procurement platform for medical supplies and pharmaceuticals, raised $9.5 million in Series A funding.
The round was led by Alpha Intelligence Capital and Dutch Founders Fund, with participation from btov Partners and Antler.
The company intends to use the funds to accelerate market and product development plans, deploy Artificial Intelligence (AI) to enhance its consumables and generics exchange platform, improve data quality for faster e-commerce, and digitize procurement and sourcing processes for both buyers and suppliers across the industry.
Company: Vamstar Limited
Round: Series A
Founding Month: June 2022
Lead Investors: Alpha Intelligence Capital and Dutch Founders Fund
Additional Investors: btov Partners and Antler
Company Website: https://vamstar.io/
Software Category: Healthcare marketplace platform
About Company: Founded in 2019 by Praful Mehta, Richard Freeman, Ph.D., and Vishesh Duggar, Vamstar is a cloud-based AI-enabled global B2B healthcare supply chain platform that connects both buyers and suppliers electronically to automate transaction and process flow across the supply chain on a global scale. The platform is used by businesses and organizations to connect suppliers, such as pharmaceuticals, consumables, medical devices, and digital technology companies, with public and private buyers, such as hospitals, laboratories, health insurances, clinics, corporations, and universities or Group Purchasing Organizations (GPOs).