RxAll

SAYNA 
Health Tech | Nigeria

RxAll is a healthtech that works with drug regulatory agencies and other stakeholders

What they do:

RxAll, founded in 2016, addresses the global issue of substandard drugs causing around 1 million deaths annually. The healthcare-services startup offers RxDelivered, an online retailer of certified medications, and RxScanner, a patented drug authentication device. RxScanner employs a molecular sensor and cloud-based machine learning for non-destructive drug testing, boasting 99.9% accuracy. The app, available for Android and iOS, validates scans within 20 seconds, using a spectral signature database to identify counterfeit drugs. RxAll's innovative solutions aim to combat the pervasive problem of counterfeit and substandard medications, enhancing drug safety globally.

Why we invested:

The issue of falsified medicine has created barriers so that people who are looking for generic medicine (which is generally cheaper and easier to falsify) are not able to get access to effective medication. RxDelivered’s drug-tested certification and platform tackles many operating issues for practitioners as well, such as cash-constrained retailers.

The Total Addressable Market (TAM) for an “Amazon of Drugs” is approximately USD 1.25Tn. In Nigeria alone, the total available market for drugs is approximately USD 2Bn, which RxDelivered is focused on capturing in the short term, while in the long term, targeting the global healthcare drug market, which suffers from falsified drugs and mislabelling with varying degrees.

The Founder:

Adebayo Alonge, a 2x founder and CEO of RxAll and StorsApp, has over 15 years of experience scaling multimillion-dollar businesses in fintech and healthtech. Leveraging deepTech and DeFi, his platforms enhance access to quality medicines and working capital for small businesses in emerging markets. A Yale and Harvard University-trained professional in finance, business, public policy, and pharmaceutical sciences, Adebayo is a recipient of prestigious awards and fellowships. Passionate about empowering African businesses, he's a global pioneer in combating counterfeit medicines using AI. With a proven track record in fundraising, sales, and product innovation, Adebayo has raised over $11M and launched award-winning solutions.

Active in:

Nigeria