Kyberlife, a Singapore-based business to business (B2B) healthcare e-commerce platform, has on Wednesday announced it has raised $3 million in its latest investment round led by Singapore venture capitalist firm 5I Ventures. (technode.global)
Kyberlife said in a statement that the round also saw participation from East Ventures, A2D Ventures, and NUS Alumni Ventures (NAV).
The new capital will support Kyberlife’s regional expansion plans and vision to streamline the digital procurement process within the healthcare sector.
The firm’s latest funding round will fuel its upcoming phase of regional growth and expansion, focusing on several key initiatives including expansion into Indonesia; connecting local healthcare institutions to global suppliers; investing in emerging technologies.
The firm will look to onboard Indonesia vendors onto its platform, offering them a platform to expand their business cross-borders and seek new sources of growth.
The company also intends to broaden its network of suppliers and customers in Southeast Asian markets, including Singapore, Indonesia, and Thailand.
By introducing new product categories such as laboratory instruments and chemical reagents, the firm seeks to empower local organizations to enhance their research and development (R&D) efforts in clinical trials and pharmaceutical research across ASEAN.
The company aims to grow its vendor portfolio to ten times its current size within the next three years.
Kyberlife will also look to invest in technologies like artificial intelligence (AI) to deliver personalized product recommendations.
These advancements will digitalize procurement workflows and close the sustainability gap it takes to find, source, acquire goods.
“Kyberlife is a platform that is built by scientists, for scientists. Our vision is to simplify the complex and lengthy process researchers face when sourcing laboratory equipment and supplies essential for R&D in the healthcare industry,
“…we look forward to connecting more healthcare vendors with institutions to drive R&D efforts in Singapore and in the broader Southeast Asia region,” said Ryan James Lim, Co-Founder and Chief Executive Officer, Kyberlife.
Kyberlife is a healthcare e-commerce platform dedicated to streamlining the procurement process for medical supplies and pharmaceuticals.
By leveraging AI-driven solutions and data analytics, the firm connects research customers with trusted suppliers, ensuring efficiency, transparency, and cost savings in the healthcare supply chain.
“At 5I Ventures, we invest in companies that disrupt industries and provide scalable solutions,
“Kyberlife’s innovative approach to procurement is a game-changer for the life sciences sector, and we are proud to back their vision,” said Dieter Schlosser, Managing Partner at 5I Ventures.
Ankit Upadhyay, General Partner of A2D Ventures, said the firm believes in Kyberlife’s ability to redefine how healthcare institutions, government agencies and laboratories access critical supplies.
“Their platform’s potential to scale and drive innovation in an industry that impacts millions of lives aligns perfectly with our mission to support transformative startups,” he added.
Wesley Tay, Principal at East Ventures, also said that the fund believes Kyberlife will make a difference in digitizing and streamlining procurement processes in the healthcare and life sciences space in Southeast Asia and beyond, and at the
same time, bring regional healthcare institutions greater access to global suppliers.
Built on a platform-as-a-service (PaaS) model, Kyberlife revolutionizes the sourcing process with its open digital marketplace concept.
Featuring 1.2 million products from 160 brands, the platform offers a wide range of items, including laboratory equipment and life-science instruments.
As a one-stop shop, the platform enables academic, research labs, and other healthcare institutions to acquire critical equipment, rewriting the norm of long sourcing processes, lead times and opaque pricing, that’s typical of traditional procurement processes.
Since its inception in 2021, the firm has already attracted a supporters including visionaries like Maya Hari (Former Global Vice President at Twitter), Professor/Dr. Jeremy Lim (Chief Executive Officer, AMiLi), and Dr Michael Gorri Z (Former Global Chief Investment Officer of Standard Chartered Bank) who have played pivotal roles in the company’s growth.
To date, the platform has been joined by suppliers such as Merck, ZymoResearch, DKSH, Eppendorf, and Sartorius that join over 160 global brands and 1.2 million stock keeping units (SKUs) and serves major customers, such as National University Singapore, Duke-NUS, Nanyang Technological University, and National Cancer Center of Singapore.
