Nigeria’s PBR Life Sciences Raises $1M to Advance AI-Driven Healthcare Analytics Across Africa
PBR Life Sciences, a leading big data aggregator in life sciences and healthcare, has raised $1M in pre-seed funding. The company plans to use the new funding to scale its data-as-a-service platforms in Nigeria and expand its operations to Ghana and Kenya.
Several investors participated in the funding round, including Launch Africa, Microtraction, Kaleo Ventures, Octerra Capital, Marula Square, XA Africa, ARM Labs, and Techstars.
Founded by Ayodeji Alaran, a University of Lagos-trained pharmacist, London Business School MBA alumnus and a former executive at GSK, Pfizer, and AstraZeneca, the company pivoted into big data and analytics in 2021 after identifying significant gaps in the industry. Today, it offers fast and easy access to high-quality, real-world healthcare data and market insights to pharmaceutical, medical device and consumer healthcare companies, health tech startups, consulting firms, multilateral agencies, and research institutions in Africa, Europe, America, and Asia.
Previously, PBR Life Sciences only offered data and insights about the Nigerian healthcare market. It has spent the past two years laying the foundation for its pioneering AI infrastructure powered by its proprietary real-world, anonymized, healthcare data in Africa, whilst consolidating its business model.
Speaking of the funding, Ayodeji Alaran, CEO and Founder said, “Being backed by some of the most reputable venture capital investors and angels in Africa not only inspires us as a team to do more but further validates the vital need to close the gap of inadequate real-world, healthcare big data that will power AI and innovation for the sector whilst unlocking global life sciences growth that will be powered by the region.”
“This will unlock value for the least understood healthcare and unmet needs in Africa and the rest of emerging markets,” he added. “With this fresh capital, we are now well positioned to achieve our ambitious growth plan, with a laser focus on profitability,” he added.
The pharmaceutical and life sciences industry in emerging markets, such as Asia, Africa, and Latin America worth $281billion, is expected to see higher growth rates, often exceeding 8-10% annually, compared to 3-5% in developed markets and yet, these are the regions with the least amount of real-world big data to aid effective commercial planning and clinical research. PBR Life Sciences is working to close this gap by being a leading provider of real-world, healthcare big data and analytics in emerging markets by the year 2030.
The company was one of the twelve (12) startups that participated in the second cohort of the ARM Labs Lagos Techstars Accelerator programme.
Its real-world data-as-a-service platforms help its users and clients make data-backed decisions on product pricing, forecasting, new product development, disease and treatment interventions, healthcare financing and company strategy.
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