Swedish Apotekamo raises 2.5 million euros

Apotekamo, the online pharmacy from Sweden, has raised 2.5 million euros in funding. The company will use the money for geographical expansion, marketing activities and the platform’s logistics solution. The startup wants to become the leading pharmacy in Southeast Europe.

Apotekamo is a startup, originally founded in Serbia, offering over-the-counter and prescription drugs as well as digital services for third-party suppliers such as order processing and payment solutions. The company is mainly active in South-Eastern Europe and part of Swedish venture builder EPTI.

Geographical expansion

Now, the online pharmacy has raised 2.5 million euros with a pre-money valuation of 14.6 million euros. Mother company EPTI shared the news on their website.

Apotekamo will use the funds for further geographical expansion in Southeast Europe. The startup has just expanded to Bosnia and Herzegovina at the start of 2022 after acquiring a local pharmacy. Additionally, the money will be put towards increased marketing operations and the startup’s logistics services.

‘Delighted given the current market climate’

As part of the investment, FC Bayern Munich’s Sporting Director and former football player Hasan Salihamidžić became the third largest shareholder and will be part of the company’s marketing activities.

CEO Srdjan Milic of Apotekamo: “We are delighted with the trust from existing and new investors, especially given the current market climate and the geopolitical situation.”

740% increased order intake

The startup increased its order intake by 740 percent during the first half of 2022 compared to the same period last year, the CEO says. According to Milic, it is Apotekamo’s aim to become the leading online pharmacy in Southeast Europe.