A reputable Spanish digital pharmacy network LUDA Partners, which at the moment has over 3,500 pharmacies interconnected in real-time across Spain has announced that it has raised €12 million from private equity investment firm ‘Moira Capital Partners‘.
The latest investment further strengthens the subject company’s capacity in this space, by enabling the progressive development of the most cutting-edge, efficient, and sustainable technology for the benefit of an interconnected community of pharmacies. In light of this, the company continues to double down on refining its product, making it a lot more robust and precise, while expanding into European markets such as Ireland. A strategic step that not only allows for the consolidation of its position in the Spanish market but also enables the deployment of its innovative digital solutions internationally, as such, contributing to the advancement and efficiency of pharmacy on a global scale.
To ascertain the company’s foothold and credibility in the pharmaceutical space, pharmacies across the country are expressing their readiness to boost their digital presence through the use of technology and agreements endorsed by the subject startup with the main national and international laboratories and leaders in quick commerce, these agreements allow them to compete in the digital realm without the need for investment. Indicating a real demand in the market that highlights the value proposition of the subject company.
This financial commitment supports the growth and development of LUDA Partner founded in 2017 by ‘Luis Martin’, ‘Daniel de Carvajal’ and ‘Marcos Alves’, the founders focus primarily on the digitization of Spanish pharmacies. Following the funding round, the company continues to experience significant momentum thanks to the financial expertise of Moira, led by ‘Javier Loizaga’.
“I am very pleased to have successfully concluded this investment for several reasons. The main one is the quality of our partners, who, after an exhaustive analysis process, have seen the work and metrics of LUDA, which validates us and adds a lot of value to a company in which pharmacists themselves are the shareholders”, co-founder of LUDA Partners ‘Daniel de Carvajal’, commented.
Judging by experts’ analysis, it was observed that the subject operation has the technological support of the Center for Technological Development and Innovation (CDTI), which is dependent on the Spanish Ministry of Science and Innovation, through its Innvierte program, and the participation of Crea Inversion S.L, a boutique advisory firm specializing in mergers and acquisitions.
‘Sebastiàn Cerezo’, a partner at Moira Capital, said: “Once again, we demonstrate our commitment to innovation in traditional sectors. We are convinced that LUDA Partners’ contribution to the digitization of a key sector for Spanish healthcare, such as the pharmaceutical industry, will significantly improve the lives of many people”.
Furthermore, the value of entrepreneurship and the launch of innovative technological initiatives is highlighted, while demonstrating confidence in the potential of LUDA to generate a significant positive impact on the health of all Spaniards. Thanks to LUDA’s technology, pharmacies have been able to help more than 280,000 patients who were faced with serious difficulties locating the necessary medications for their treatments, compromising their adherence to them, and have continued with their digitization process through up-to-date solutions to increase their online sales of para-pharmacy products.