February 08, 2022

$15 Million Round for 1000Farmacie

The funding will be used to expand the business and the last mile delivery service. By 2023, the company will also integrate additional healthcare services to support patients.

1000Farmacie, a startup that brings together several hundred Italian pharmacies on a single online platform, has closed a record $15 million round. The funding was led by P101 SGR - through its second vehicle P102 and ITALIA 500 - and HBM Healthcare Investments, one of the world's leading investors in healthcare innovation, listed on the Swiss Stock Exchange.
Also participating in the Neapolitan startup's investment round were Swiss family office Corisol Holding, Club degli Investitori, the members of Italian Angels for Growth, LIFTT and Healthware Ventures.

"We considered 1000Farmacie an interesting reality to invest in because of the quality of the management and founders, the opportunity to develop a digital champion in the field of drug distribution, both over-the-counter and prescription, and the shareholding structure that shares the ambition of the company and has the necessary resources to contribute to a success story. It is in fact a co-investment with some professional VC funds that share the goal of developing a category killer of the drug in Italy, in a still fragmented market", say Giuseppe Mantero and Paolo Moretti, IAG Champions in this investment.

1000Farmacie was founded in March 2020 by CEO Nicolò Petrone, COO Mohamed Younes and Alberto Marchetti, CMO. The company has seen exponential growth in less than two years. With a network of more than 100 independent pharmacies in major Italian cities and 95,000 products on sale, 1000Farmacie now has more than 250,000 customers. In the last year it has recorded a 600% growth in turnover. The startup also collaborates with some important big Pharma that use its technology to make their drug delivery service more efficient.