AI startup Vamstar secured $9.5 Milion Series A to expand Healthcare Supply Chain Platform

Vamstar, a London-based provider of an Artificial Intelligence procurement platform for medical supplies, has now secured $9.5 million in a Series A funding round.

Vamstar was founded by Praful Mehta, Richard Freeman and Vishesh Dugga in the year 2019. It is a cloud-based AI-enabled global B2B healthcare supply chain platform that helps to connect with both the buyers and suppliers electronically to automate transaction and process flow across the supply chain on a global scale.

Terry Chou, Partner at Alpha Intelligence Capital, said, "We see a tremendous opportunity in a market that is largely underserved for the Vamstar platform to organize the procurement system in the healthcare industry. The Company’s advanced Natural Language Processing capability sets them apart from other offerings. Paired with the strategic vision of the founders Praful, Richard, and Vishesh, Vamstar is setting the standard for procurement-enablement in healthcare."

Vamstar founder and CEO Praful Mehta said, "Healthcare supply chains are under tremendous pressure with ongoing crises like COVID-19, the war in Ukraine, and rising inflation. There is very little data available to help healthcare procurement managers and suppliers make decisions in real-time. At Vamstar, our goal is to empower supply chain professionals, clinicians, hospital administrators and their suppliers to collaborate in innovative ways to create meaningful relationships. It is only by enabling a shared vision for collaboration, fueled by better data and insights, that we can deliver greater value for all stakeholders and the wider community within the healthcare ecosystem."

The round was backed by the Dutch Founders Fund and Alpha Intelligence Capital, with participation from the BTOV Partners and Antler.

The AI healthcare supply chain startup, as of now, has plans to use the new funds to accelerate market and product development plans, deploy AI to enhance its consumables and generics exchange platform, improve data quality for faster ecommerce, and digitize procurement and sourcing processes for both the suppliers and buyers across the industry.