Apowiser Raises $1.5M In Seed Funding from Longliv Ventures, a Member of CK Hutchison Holdings, to Expand the Global Reach of its Novel Digital Platform that Empowers Consumers to make Informed Choices when Selecting Over-the-Counter Medications
RA'ANANA, Israel, June 21, 2022 /PRNewswire/ -- Apowiser, an early-stage Israeli start-up that has developed PharmAssist, a chatbot-based system to support customers in the online purchase of Over-the-Counter (OTC) drugs announced today a $1.5 million seed funding round led by Longliv Ventures, a member of CK Hutchinson Holdings Limited.
Co-founded in 2021 by Prof. Eyal Schwartzberg, the former Head of Pharmaceutical & Enforcement Divisions of the Israeli Ministry of Health, the Company's offering is a timely response to the needs of consumers and suppliers, given the consistent growth in global sales of OTC drugs and the recent surge in online sales of OTC drugs, vitamins and other food supplements.
Apowiser's proprietary system, PharmAssist, is a novel digital online platform that assists consumers when they look to treat themselves with OTC medications. It allows consumers in a quick and discreet manner, to learn more about their condition, identify issues that should be escalated to a healthcare provider, check for allergies and potential sensitivities to ingredients of OTC medications, and purchase an appropriate OTC product. PharmAssist is a sophisticated system that is based on published medication data and a deep understanding of the practices of pharmacists. The current platform covers more than 600 OTC drugs & complimentary products, enabling treatment for more than 40 healthcare scenarios.
"The availability of OTC drugs has empowered consumers around the world take care of a large variety of mild medical conditions", explained Prof. Schwartzberg, Chief Science Officer and Chairperson of Apowiser. "This however has surfaced the need to find new ways to provide the essential information to enable the consumer to make the right choices. PharmAssist quickly and discreetly assists consumers in choosing a suitable OTC drug out of a large offering, while helping them to take into consideration any related medical condition".
"With the advent of online sales of OTC medications, Apowiser's offering has proven to be an essential tool for both consumers and pharmacies", said Dr. Dan Eldar, Executive Director of Longliv Ventures. "We are delighted to support Apowiser as it embarks on the journey to empower consumers around the globe to make informed choices regarding their health and well-being." Dr. Eldar, joined the board of directors of Apowiser upon completion of the investment.
PharmAssist is already in use by Super-Pharm, Israel's largest drugstore chain, operating more than 280 branches across the country with an accompanying strong online presence. "Super-Pharm sees a major increase in conversion rates in sessions where PharmAssist is used", said Michael Mitrani, VP E-commerce and Marketing at Super-Pharm online and member of the management board at Super-Pharm. "These excellent results testify to the considerable added value to our customers as they seek remedy among the wide range of OTC medications offered by Super-Pharm".
For additional information visit www.apowiser.com
About Longliv Ventures:
Longliv Ventures L.P. ("Longliv Ventures"), a member of CK Hutchison Holdings Group Limited. ("CKHH"), is a consumer-oriented digital health fund that focuses on investments in early stage ventures that seek to address significant health and wellness issues capable of producing global impact. CKHH has a pivotal role in healthcare through its A.S. Watson Division, the world's largest international Health and Beauty retailer with over 16,400 stores in 29 markets in Europe and Asia. Among its world-renowned brands are Superdrug, Rossmann, Kruidvat and Watsons.
For further details about Longliv Ventures, please refer to www.longliv-ventures.com
Contact:
Eyal Schwartzberg
[email protected]
Video - https://www.youtube.com/watch?v=mSRHT1xkzzg
SOURCE Apowiser
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