Vamstar raises $1.7Mn Seed Funding –  Creating the AI-Powered Healthcare Marketplace

Today is an exciting milestone for us here at Vamstar –  having completed a $1.7Mn Seed funding round. Here’s what that means for our future…

We have just closed our Seed funding round, led by btov with participation from Antler and Begin Capital. The Seed funding is accelerating our mission and amplifying our abilities to build a SaaS-enabled healthcare marketplace for businesses connecting with all healthcare buyers globally (hospitals, clinics etc.).

Previously, Vamstar won multiple Innovate UK grants with the University of Sheffield and the University of Nottingham. Now with the seed funding, Vamstar is able to grow significantly since its inception in early 2020.

Vamstar will use the funding to scale the company and launch new features in the marketplace. We will expand the team from the UK, Germany, India, and the United States with new roles in sales and marketing, product development, and data analysis.

We are creating the world’s first global AI-powered B2B healthcare marketplace. 

We are on a mission to make healthcare affordable across the globe by helping buyers source new products and services while streamlining overall costs. The healthcare marketplace will connect suppliers such as pharmaceutical, medical device companies, with public and private buyers, including hospitals, health insurances or group purchasing organizations (GPOs).

“An increasing need for competitive, diversified and transparent sourcing approaches and the manifestation of value-based tendering and procurement create the foundation for a future infrastructure platform in healthcare procurement. Having known the company since its very early days, we were able to eye-witness the impressive and rapid development of Vamstar over the last few months.” – Jan-Hendrik Buerk, Principal at btov

Now is the right time to disrupt the traditional world of healthcare sourcing and procurement. Our innovative healthcare marketplace solution will do just that.

Adjusting in a COVID world 

COVID-19 is affecting the entire world, it has had a significant impact on the healthcare industry. With grant support from Innovate UK and collaborations with the University of Sheffield and the University of Nottingham, we embarked on contributing to post-COVID recovery by ensuring that the supply chain risk and supply-demand matching can be monitored in real-time within our healthcare systems.

Now more than ever, our technology is proven to be essential. The COVID-19 Pandemic’s effects on the healthcare industry has further proven the shortcomings in the current sourcing and procurement processes. Our healthcare marketplace will allow for a more agile, cost effective process to adjust to any situation; whether it be a need for new health technology, anticipating risk factors, or understanding the competitor landscape.

Taking Vamstar to New Heights 

We are committed to transforming healthcare procurement to a centralized marketplace the industry deserves. We will focus a significant amount of funding on building the supplier and buyer related use-cases to accelerate growth and explore new strategic opportunities to elevate our platform and AI technology.

We’d like to express our thanks to our customers, investors, partners, and the Vamstar team. Through the support, hard work, and dedication to our vision that we will be successful. Thank you and we look forward to taking Vamstar to new heights together!

Praful, Richard, and Vishesh

Click here for the full details of the seed funding.

About Vamstar

Vamstar is changing the status quo in the healthcare industry and fully transforming the way healthcare supply chain functions, by building the very first SaaS-enabled AI driven B2B healthcare marketplace. Its platform is used for businesses and organisations connecting suppliers, such as pharmaceutical, medical device, and digital technology companies, with public and private buyers, such as hospitals, health insurances or Group Purchasing Organizations (GPOs). The company was founded in early 2020 by Praful Mehta, Richard Freeman, and Vishesh Duggar with offices in the UK, India, and the United States.