Vietnam and Hong Kong-based pharma industry-focused SaaS firm POC Pharma has closed a $4.5-million seed funding round, marking one of the biggest rounds at that stage in the country.
Germany-based Picus Capital, US-based FJ Labs and Goat Capital, Vietnam-focused VC firm Febe Ventures, 500 Startups and angel investors participated in the round.
Founded in 2020 by serial entrepreneur Thomas Miklavec, POC Pharma’s software solutions offer omnichannel sales management, trade programme system, remote selling and proprietary data. The startup said it has attracted five global pharma firms as customers including Bayer Pharma and Pfizer.
Miklavec’s previous venture, Sanisphere, is engaged in providing proprietary sales and behavioral data to over 60 pharmaceutical companies across Asia and Africa.
POC Pharma, which has launched its service in Vietnam, will use the funding proceeds to enhance its product to enable suppliers to develop online sales. Subsequently, the company is targeting to launch in more countries.
The startup claims its solutions are designed to be implemented in any emerging country without requiring a local footprint.
“Pharma go-to-market and engagement model are still very traditional. We will see the revolution of the B2B commercial models happening across geographies and industries. We are convinced that the pharma industry will be no exception,” Miklavec said.
“The needs and expectations of our customers are changing; the patient journey is changing. It requires us to go ‘Phygital’ and to be very data-driven in the way we engage some of our customers. Face-to-face cannot be the only way to interact with them anymore,” said Bayer Pharma commercial director Mo Yasin. Bayer Pharma is also a customer of POC Pharma.
In recent deals connected to the life science tech space in Vietnam, Docosan raised a $1-million seed financing from Taiwan-based early-stage investor and accelerator AppWorks. Earlier deals in 2020 include eDoctor, JioHeallth and Thuocsi.