Arogga Raises Investments for Pharmaceutical and Healthcare Application
Arogga has secured an investment from Dubai-based investment firm Falcon Network for its pharmacy and healthcare app.
Falcon Network focuses on mission-driven entrepreneurs and businesses in high-growth markets, and members include high-net-worth individuals from across Asia committed to investing in the potential of their constituent markets.
Since its inception in 2018, Falcon Network has invested more than $2.5 million in technology companies that are disrupting critical sectors of their national economies, such as, among others, education, health, transport, services finance and agriculture, according to a press release distributed to the media.
Sayd Farook, Partner at Falcon Network, said: “The Covid-19 pandemic has revealed critical challenges in the delivery of healthcare services globally. Consequently, the health technology industry is growing at an exponential rate globally, and Arogga is well positioned to be a market leader in Bangladesh, a country that is expected to reach the top 25 economies by 2034. Accordingly, we are absolutely delighted to support Arogga’s growth with our investment and board representation – our fourth investment in Bangladesh and our second investment in health technology. The team demonstrates a strong mix of entrepreneurial and operational expertise that will enable us to build a mobile-first health services ecosystem, from pharmaceutical product deliveries to e-health service delivery.”
Arogga, which means “healing” in Bangla, has created a digital pharmacy and healthcare app of the future using technology that allows patients to easily manage, order and track the delivery of medicines and healthcare products at an affordable price.
Key features include easy prescription downloads, cashback incentives, and free drug delivery.
Launched earlier in 2020, Arogga received an overwhelming response to its app, fulfilling over 4,400 orders in just a few months. Now, after a relaunch in December 2020, with already over 28,000 app installs, Arogga is set to make waves in Bangladesh, with the local market worth $5.11 billion by 2023.
Arogga’s founding team is made up of Fahad Hossain, Rosina Mazumder, Shamim Hasan and Yawar Mehboob, who bring synergistic skills in business, strategy, operations and technology, and are excited to get this seed funding from Falcon.
Former investment banker turned celebrity entrepreneur, Rosina Mazumder successfully used social media to launch and grow the global business Cake Masters and now sits on the UK SME Facebook Council, as well as being a Facebook Ambassador since 2017. 2020 became the year of reassessment and exploration of ideas impacting emerging markets, which led him to co-found Arogga.
Rosina Mazumder, CEO and Co-Founder, said, “With Bangladesh touted as one of the next biggest energy economies, and with people embracing the digital revolution with the use of smartphone technology, our goal is to making Arogga the number one pharmacy and healthcare platform in Bangladesh.Solving the issues of availability of genuine medicines at an affordable price while being delivered to your doorstep.With the first phase focusing on pharmacy, we are excited to develop future verticals to enhance Arogga and become the ultimate healthcare platform for Bangladesh.”
Shamim Hasan, CTO and co-founder, said he plans to use the investment to develop and improve the technology behind the app, as well as build on the infrastructure around the delivery of medicines and health products.
This agreement marks Falcon Network’s fourth investment in Bangladesh and will impact how millions of people better manage their healthcare.