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Zeal API has successfully raised $15 million in a Series B funding round, led by Portage Investment, with participation from Spark Capital, Commerce Ventures, Cohen Circle, Long Journey Ventures, Y Combinator, and BoxGroup. The announcement was made by members of the team, including Kirti Shenoy and Pranab Krishnan. In a separate development, Alchemy has raised $31 million in a Seed funding round, led by Andreessen Horowitz (a16z), with notable participation from Magic Johnson, Sheryl Sandberg, and existing investors Twine Ventures, Springbank, and AlleyCorp. This funding will support Alchemy's mission to enhance access to life-saving medications through small, underserved healthcare clinics, addressing significant disparities in pharmaceutical access in the United States, where over $700 billion is spent annually on pharmaceuticals.
Super excited about our new investment in @Alchemy_rx, working to solve key supply-demand mismatches in the pharmaceutical value chain and ultimately better connect the life sciences and healthcare delivery systems. @julesyoo @JayRughani @a16zBioHealth https://t.co/Jn16TPCJXo
How can we ensure that everyone has access to life-saving medications, regardless of where they live? @Alchemy_rx is tackling this challenge by empowering small, underserved healthcare clinics to manage their own in-house pharmacies. Right now, most large hospitals offer… https://t.co/xTF9eQOGS0
We @a16z are thrilled to announce our investment in @Alchemy_rx, as they expand access to life-saving medications for underserved communities. Despite spending over $700B each year on pharmaceuticals in the US, we still face wide disparities in access to essential medicines.… https://t.co/PPvZEVAzPY
