PBR Life Sciences Secures $1M to Expand AI-Powered Healthcare Analytics in Africa
PBR Life Sciences, a data analytics company backed by Techstars, has raised $1 million in funding to expand its AI-powered healthcare analytics operations in Africa. The company plans to use this funding to broaden its operations into Ghana and Kenya.
Investors participating in the funding round included Kaleo Ventures, Octerra Capital, Marula Square, XA Africa, Launch Africa, Microtraction, ARM Labs, and Techstars.
One of the major challenges faced by pharmaceutical companies across the continent is accurately estimating market demand. This often results in overproduction issues.
PBR Life Sciences addresses this challenge by collecting anonymized data from various pharmacies, including information on drug quantities, prices, and purchase frequencies.
This solution helps establish a balance between market needs and supply, ensuring a better alignment of demand and supply in the pharmaceutical industry.
Additionally, PBR offers a generative AI feature that allows users to pose questions and instantly generate analyses, enhancing decision-making capabilities. The company also plans to integrate AI into drug discovery processes.
In the future, PBR intends to use blockchain technology to ensure the anonymization and randomization of healthcare data. If successful, the company aims to expand its target market to 10 additional African countries.
PBR has reported a 200% profit increase since last year. The company competes with well-established players such as IQVIA and Sanisphere.