PBR, a Techstars-backed healthcare data analytics company, has raised $1 million in pre-seed funding to enhance its AI infrastructure and expand operations into Ghana and Kenya. The funding round saw participation from notable investors, including Launch Africa, Microtraction, Kaleo Ventures, Octerra Capital, Marula Square, XA Africa, ARM Labs, and Techstars.
Founded in 2015 by Ayodeji Alaran, PBR pivoted to big data and analytics in 2021, positioning itself as a critical player in Africa’s healthcare sector. The company provides multinational pharmaceutical groups, including Sanofi, with actionable insights to streamline decision-making processes such as product pricing, market forecasting, and new product development. PBR’s offerings aim to resolve long-standing challenges in the pharmaceutical industry, where excessive production volumes often arise due to inadequate understanding of market demand.
To address this issue, PBR aggregates anonymized healthcare data—including drug quantities, prices, and purchase frequency—from pharmacies across Nigeria and Ghana. By leveraging these insights, pharmaceutical companies can align production with actual market needs, thereby improving efficiency and reducing wastage.
PBR’s innovative platform delivers its solutions through AI-powered analytics dashboards, enabling users to track market share, consumption patterns, and product performance. These dashboards cater to a diverse client base, including pharmaceutical companies, consulting firms, NGOs, and multilateral agencies. Additionally, PBR incorporates a generative AI feature that allows users to generate tailored analytics by posing questions directly to the system.
As advancements in AI reshape global healthcare, PBR aims to address a critical gap: the exclusion of African patients due to limited local data. By gathering and analyzing unique datasets from the continent, PBR not only provides a deeper understanding of healthcare consumption patterns but also facilitates AI-driven drug discovery. The company plans to collaborate with patients in clinical trials to ensure Africa’s inclusion in cutting-edge innovations. Furthermore, PBR is exploring blockchain technologies to enhance anonymization and randomization of healthcare data, reinforcing its commitment to data security and privacy.
Speaking on the funding milestone, PBR’s Founder and CEO, Ayodeji Alaran, emphasized the significance of the investment for both the company and Africa’s healthcare sector. “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. This will power AI and innovation for the sector while unlocking global life sciences growth that will be driven by the region,” said Alaran.
PBR’s growth trajectory has been bolstered by its inclusion in the second cohort of the ARM Labs Lagos Techstars Accelerator programme. The company currently serves high-profile clients such as Sanofi, Roche, Emzor, International Finance Corporation (IFC), and Mercs. According to Alaran, PBR has achieved a 200% revenue growth since 2023, though the company has opted not to disclose specific financial figures.
Despite its achievements, PBR operates in a competitive landscape, contending with established players such as IQVIA and Sanisphere, both of which offer similar data-driven solutions. PBR differentiates itself through its subscription-based revenue model, complemented by independent report sales and consultation services.
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