Bangladeshi medicine delivery startup Arogga announced that it has secured $200k in pre-seed funding from new angel investors, and follow-on investment from Dubai-based Falcon Network.
Zohaib Patel, the Managing Partner at Falcon Network, said: “Falcon Network is delighted to continue its commitment to Arogga in this round. We believe this latest funding round will help Arogga’s strong management team to build on the company’s impressive growth and cement its market leadership position in the pharmacy logistics space. Bangladesh is on the cusp of a new wave of technology-driven growth, and we are very proud to be early backers of several talented entrepreneurs in the country.”
Rosina Mazumder, Co-Founder, and CEO of Arogga said: “Since launching in December 2020, we have seen a 60% average month-on-month growth, proving there is significant demand. Arogga offers genuine medicine directly from the manufacturers, conveniently delivered to your door.”
Arogga won the Tech in Asia Pitch Competition in March, attracting investment from Singapore-based angel investors. Judges Gavin Teo, General Partner at Altara Ventures; Shiyan Koh, Managing Partner at Hustle Fund; and Shuyin Tang, Partner at Patamar Capital were impressed with CEO Rosina’s pitch, crowning them the winner against five other startups.
Impressively, in this round, six female angels invested in Arogga. Here is what some of them had to say.
Maaike Doyer, Singapore-based ex-Silicon Valley entrepreneur and Founder of Epic Angels, said: “Bangladesh is a huge market, and still overlooked by many investors. I invested in Arogga as everyone should have access to authentic medication. Arogga does exactly that, in a tech-enabled way. The team has a deep understanding of the local market and at the same time, they have a lot of experience outside of the country, which enables them to quickly learn and adapt based on examples elsewhere. They have shown traction early on and the growth potential is massive.”
Dr. Adeeba Khan, investor, and barrister said: “This past year and a half has particularly highlighted how devastating it can be to not have access to healthcare and medicine. Particularly in places with lesser developed infrastructure, we have seen millions suffer from inaccessibility. Being able to provide these solutions to the doorstep, through the use of an app, can better and potentially save millions of lives. I am very proud to be part of this journey.”
Following a 15-year career in M&A and Strategy, Singapore-based investor and Dutch entrepreneur Hester Spiegel-van den Steenhoven pivoted into growing great companies with purpose. Hester said: “Arogga has been able to find a solution for an actual and serious problem, and they are a great team. I am very excited to join them on their journey and help make their solution a success.”
Having raised a quarter of a million dollars to date, Arogga plans to use these funds to significantly scale by investing in more tech talent and operational expansion.
Co-Founder and CTO Shamim Hasan said: "At Arogga, we want to use technology to ease the access of good healthcare to millions in Bangladesh. With this investment, we will grow our tech team to build further verticals and get one more step closer to a truly Digital Bangladesh.
Co-Founder and COO Fahad Hossain said: “To date, we have over 70,000 app downloads, delivered over 30,000 medicines, and achieved a 4.9 user rating. This investment will further our growth and have a significant impact on our operations.”