Vamstar lands £1.2M funding: London startup creates world’s first AI-powered B2B healthcare marketplace

Vamstar, a London-based B2B healthcare marketplace powered by AI, has secured $1.7 million (approx £1.2 million) seed funding led by btov with participation from Antler and Begin Capital.

The funding will be used to build the supplier and buyer related use-cases to accelerate growth. Also, the company is planning to expand team globally from the UK, Germany, India, and the United States by the end of 2021 with new roles — sales and marketing, product development, and data analysis.

Reinventing healthcare procurement

Founded by Praful Mehta, Richard Freeman, and Vishesh Duggar in 2020, Vamstar is reinventing healthcare procurement by using data science to connect billions of data points across the supply chain. 

The 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 Organisations (GPOs).

Combating supply chain stability

The COVID-19 pandemic has shaken the notion of supply chain stability in the global economy. In the healthcare industry, this has led to equipment shortages in hospitals and issues with medical transportation. To combat this, Vamstar has created the world’s first AI-powered B2B healthcare marketplace.

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