Field Intelligenceis a healthcare technology company which is designed to strengthen the pharmacy supply chain in Nigeria and Kenya. Field Intelligence’s Shelf Life service is designed to support pharmacy owners manage their inventory to avoid stockouts and missed sales. This is a critical innovation given and the prevalence of substandard medicines in the African pharmaceutical market, especially when it comes to antibiotics and antimalarials. It also serves as a cheaper and more convenient source of alternative financing to these small pharmacies.
In March 2020, the company announced the successful closing of its US$3.6 million Series A funding round, led by the Blue Haven Initiative, an impact investment firm based in the United States. As transaction advisors, funded by USAID as part of the US Government’s Prosper Africa initiative, CrossBoundary performed commercial due diligence on the commercial market opportunity, including potential expansion sites for the service.
The investment will allow Shelf Life to continue to expand throughout Nigeria and Kenya and deepen its product offering and enable pharmacies in Nigeria and Kenya adapt to changing customer needs during the Covid19 pandemic.