Arogga raises investments for its Falcon Network 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 home markets. Since its inception in 2018, Falcon Network has invested more than $ 2.5 million in technology companies disrupting critical sectors of their national economies, such as, among others, education, healthcare, transportation, services finance and agriculture.
Sayd Farook, Partner at Falcon Network, said: âThe COVID-19 pandemic has revealed critical challenges in the provision of health services globally. As a result, 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 expected to reach the top 25 economies by 2034. As a result, we are absolutely delighted to support the growth of Arogga 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 allow us to create an ecosystem of mobile health services, from pharmaceutical deliveries to e-health service delivery.
Arogga, which means ‘to heal’ in Bengali, has created a digital pharmacy and healthcare application of the future using technology that allows patients to easily manage, order and track the delivery of medicines and health products. affordably. Key features include easy prescription download, cash back rewards, and free drug delivery.
After launching earlier in 2020, Arogga faced an overwhelming response to its app, fulfilling over 4,400 orders in just a few months. Now, after relaunching in December 2020, with more than 28,000 app installs already, Arogga is set to make waves in Bangladesh, with the local market growing to $ 5.11 billion by 2023.
The founding team of Arogga is comprised of Fahad Hossain, Rosina Mazumder, Shamim Hasan and Yawar Mehboob, who bring synergistic skills in business, strategy, operations and technology, and are happy to obtain this Falcon seed funding.
Former investment banker turned celebrity entrepreneur, Rosina Mazumder has successfully used social media to launch and grow a global Cake Masters business and now sits on the UK SME Facebook Council, as well as being an Appointed Ambassador for Facebook since 2017. 2020 has become the ‘year of reassessing and exploring impact investing ideas in emerging markets, which led to becoming co-founder of Arogga.
Rosina Mazumder, CEO and Co-Founder, said: âWith Bangladesh highlighted as one of the next biggest energy savings, and with the people embracing the digital revolution with the use of smartphone technology , our goal is to make Arogga the number one pharmacy and healthcare platform in Bangladesh. Solve issues related to the availability of genuine, affordable medicines while being delivered to your doorstep. With the first phase focused on pharmacy, we are excited to develop future verticals to improve Arogga and become the ultimate healthcare platform for Bangladesh. “
Shamim Hasan, CTO and co-founder, said they plan to use the investment to build and improve the technology behind the app, as well as to build on the infrastructure around the delivery of drugs and health products.
The deal marks Falcon Network’s fourth investment in Bangladesh and will impact how millions of people better manage their healthcare.
For more information or for investor relations, please contact:
Rosina Mazumder – Arogga
Sayd Farook – Falcon Network
Â© Press release 2021