ProCheck, a local startup that works with drug manufacturers to fight the longstanding issue of counterfeit drugs, secured $250,000 in seed funding round led by Sarmayacar joined by Pakathon/Elastica.
The funding will allow ProCheck to expand its sales and engineering team to capitalise on the surge of interest from the pharmaceutical industry in particular and will enable it to establish a sales and service presence in manufacturing hubs outside Karachi, where it is headquartered.
Patari secures $200,000 in seed funding
As part of the financing, Sarmayacar founder Rabeel Warraich has joined the startup’s Board of Directors.
Founded in 2014, ProCheck provides unique codes printed on medicines that consumers can use to confirm whether the drug they have bought is genuine or not. The verification can be used as a consumer engagement channel, and help differentiate a manufacturer’s brand. ProCheck works with leading pharmaceutical firms like Getz Pharma, Ferozsons Labs, Nabi Qasim and Shabbir Tiles.
"By offering the full stack of track and trace capabilities, SMS and app based verification services, coupled with a strong focus on analytics and patient engagement, ProCheck has established itself as the provider of choice for the pharmaceutical industry,” said Warraich.
“ProCheck’s product partnerships mean they can provide a highly scalable, proven suite of services to help manufacturers comply with government mandates for Punjab tenders and DRAP. “he added.
Speaking at the occasion, ProCheck founder and CEO Saim Siddiqui said, “We’re focused on our mission of enabling patient access to authentic and affordable drugs, by protecting the supply chain and empowering the purchaser.”