PBR Life Sciences Secures $1M to Expand AI-Powered Healthcare Analytics in Africa

Ayodeji Alaran, PBR Life Sciences Founder & CEO

PBR Life Sciences, a healthcare data analytics firm supported by Techstars, has raised $1 million in pre-seed funding. The round saw participation from Launch Africa, Microtraction, Kaleo Ventures, Octerra Capital, Marula Square, XA Africa, ARM Labs, and Techstars. The funds will be used to enhance AI infrastructure and expand operations into Ghana and Kenya.

Founded in 2015 by Ayodeji Alaran, PBR shifted its focus to big data and analytics in 2021. It provides pharmaceutical companies like Sanofi with critical market insights, enabling informed decisions on pricing, forecasting, and product development in Africa. By collecting anonymized data from pharmacies on drug quantities, pricing, and purchasing patterns, PBR helps pharmaceutical firms align production with market demand, reducing waste and inefficiencies.

The company’s AI-powered analytics dashboards offer users access to market share data, consumption trends, and other valuable insights across Nigeria and Ghana. A generative AI feature allows users to ask questions and receive instant analytics. PBR is also working on using blockchain for data anonymization and plans to expand into 10 more African countries.

PBR aims to close the gap in healthcare data from Africa, ensuring that patients on the continent are included in AI-driven drug discovery. It collaborates with clinical trials to provide localized data, driving global innovation in life sciences. The company’s revenue has reportedly grown by 200% since 2023, fueled by its subscription model, report sales, and consultancy services, competing with firms like IQVIA and Sanisphere.

“Being backed by reputable investors validates the need to address inadequate healthcare data in Africa and unlock growth in global life sciences,” said CEO Alaran.

Source: Faith Omoniyi / TechCabal