Axmed, a Switzerland-headquartered health technology company with regional headquarters in Nairobi, Kenya, has secured $6 million in non-dilutive grant funding from the Gates Foundation to expand access to high-quality, affordable medicines across low- and middle-income countries.
The new funding builds on a prior $5 million grant from the foundation and brings Axmed’s total capital raised to $13 million to date, including backing from Founderful Ventures. The capital will support the expansion of the company’s B2B procurement and integrated logistics platform across Africa and accelerate procurement programs spanning family planning, malaria treatments, and other essential medicines serving mothers, children, and underserved patient populations over the next 12 to 18 months.
Since launching its geo-agnostic pooled procurement and logistics platform, purpose-built for fragmented and supply-constrained healthcare markets, Axmed has scaled rapidly. In 2025, the platform delivered more than 1,800 metric tonnes of healthcare products and reached over 4.2 million patients, up from approximately 750,000 patients in 2024. Over the same period, the company reported 12x year-on-year revenue growth and maintained an average 70 percent repeat purchase rate.
Through demand aggregation, price transparency, and coordinated international logistics, the platform generates 30 to 35 percent cost savings for customers. These efficiencies are designed to expand patient reach, improve medicine availability, and reduce delivery timelines across complex operating environments.
Axmed plans to operate in more than 20 countries by the end of 2026. The company has set a target of reaching 50 million patients within three years and more than 100 million within five years, positioning its platform as core procurement infrastructure in underserved markets.
KEY QUOTES
“Although Axmed is a young organization, their model of leveraging a technology-enabled marketplace to improve access to essential medicines in emerging markets is both innovative and essential. They have demonstrated an exceptional ability to navigate global healthcare supply chain complexity and translate strategy into measurable and sustainable impact.”
Denise Tuiime Mutambi, Director of Planning and Procurement at Joint Medical Stores
“This funding allows us to scale what already works while we bring in aligned long-term capital. With the continued support of the Gates Foundation, our focus is disciplined execution at scale: strengthening procurement systems, improving affordability, and ensuring high-quality medicines reliably reach the people who depend on them.”
Emmanuel Akpakwu, Founder and CEO of Axmed
