PBR Life Sciences, a Techstars-backed healthcare data analytics company, has raised $1 million in pre-seed funding to bolster its AI infrastructure and expand into Ghana and Kenya. The round included participation from prominent investors like Launch Africa, Microtraction, Kaleo Ventures, Octerra Capital, Marula Square, XA Africa, ARM Labs, and Techstars.
Transforming Healthcare Data with AI
Founded in 2015 by Ayodeji Alaran, PBR initially focused on healthcare services but pivoted to big data and analytics in 2021. Today, it provides multinational pharmaceutical companies like Sanofi and Emzor with data-driven insights to improve product pricing, demand forecasting, and new product development in African markets.
Key Services and Solutions:
- AI-Powered Dashboards:
- PBR offers pharmaceutical companies, NGOs, consulting firms, and multilateral agencies access to pre-built AI dashboards for real-time insights into:
- Market shares
- Product consumption patterns
- Drug pricing and frequency of purchases
- PBR offers pharmaceutical companies, NGOs, consulting firms, and multilateral agencies access to pre-built AI dashboards for real-time insights into:
- Generative AI:
- A new feature allows users to ask questions and generate automated analytics, simplifying decision-making processes.
- Data Collection:
- PBR gathers anonymized data from pharmacies, including:
- Drug quantities sold
- Pricing
- Frequency of purchases
- This helps pharmaceutical companies align production with actual market demand and avoid inefficiencies.
- PBR gathers anonymized data from pharmacies, including:
Why It Matters
As AI-driven drug discovery grows globally, African markets risk exclusion due to limited healthcare data from the continent. PBR addresses this gap by providing unique local data points and supporting clinical trials that reflect African patients’ needs.
Future Plans:
- AI for Drug Discovery:
- PBR aims to collaborate with patients for clinical trials, ensuring Africa’s representation in AI-driven pharmaceutical innovation.
- Blockchain Integration:
- The company plans to explore blockchain for data anonymization and randomization, enhancing privacy and data security.
- Pan-African Expansion:
- Plans to expand into 10 additional African countries.
Traction and Growth
- 200% Revenue Growth (2023-2024):
- Although exact revenue figures remain undisclosed, PBR has achieved significant growth, fueled by demand from global pharmaceutical players.
- Clientele:
- Serves clients like Sanofi, Emzor, Roche, IFC, and Mercs.
Competitive Landscape
PBR operates in a competitive market alongside players like IQVIA and Sanisphere, which offer similar services. However, PBR differentiates itself through:
- Localized Data Focus: Tailored to African markets.
- AI Integration: Advanced analytics powered by generative AI.
- Subscription Model: Revenue streams include subscriptions, independent reports, and consultation fees.
Investor Confidence and Vision
PBR’s latest funding underscores the growing investor interest in healthcare innovation in Africa.
“Being backed by some of the most reputable venture capital investors and angels in Africa not only inspires us as a team to do more but further validates the vital need to close the gap of inadequate real-world, healthcare big data,” said Ayodeji Alaran, PBR founder and CEO.
Conclusion
With its robust technology platform and focus on addressing Africa’s healthcare data deficit, PBR Life Sciences is positioned to play a critical role in transforming the healthcare landscape. As it scales operations in Ghana, Kenya, and beyond, the startup is set to unlock growth opportunities for global life sciences companies while driving innovation in African healthcare systems.