Redpoint eventures and DNA Capital, the corporate venture arm of DASA, led a US$4.5m investment in Memed, a Brazilian digital prescription platform. Qualcomm Ventures, monashees and Redpoint invested previously.
(Press Release) Memed raises $4.5 million round from DNA Capital and Redpoint eventures
With the new investment, Brazilian healthtech innovator Memed will expand its leadership role
in digital medical prescriptions.
São Paulo, Brazil – February 20, 2020 – Memed, the market leader in digital medical prescriptions, has just
received a new investment round (Series B), led by DNA Capital , in conjunction with Redpoint eventures, a VC
fund focused on technology startups. The $4.5 million round will be used to boost the transformation of the
traditional scenario of handwritten medical prescriptions into 100 percent digital and intelligent prescriptions
in Brazil, ensuring patient safety and efficiency for doctors, patients and pharmacies. Memed has previously
received funding from some of the main venture capital funds in the region, including Monashees Capital,
Qualcomm Ventures and Redpoint eventures.
According to Ricardo Moraes, Memed’s CEO, the new investment will contribute to the transformation of
medical prescriptions in Brazil. Memed’s vision is to create a digital prescriptions ecosystem that lets patients
leave their doctor’s offices with only the digital version of prescriptions so they can buy medication online or
in person, without the need to present a paper prescription and worry about possible mistakes or
headaches. This process brings more security, intelligence, access to other information and new ability to
find the best prices.
“The path we are following is a long one and it is only possible to reach our goal with the help of the best
partners in the market. We see at DNA Capital , together with current partners, the opportunity to add a
partner with great experience in the health area, opening new doors and accelerating our growth plan in the
market,” said Moraes.
In the view of DNA Capital, this funding represents an important step in the consolidation of Memed as the
main platform for transforming the medical prescription experience. “We thoroughly analyzed the digital
prescription market and were impressed with the quality and vision of Memed’s entrepreneurs. Its trajectory
of innovation will certainly contribute a lot to the sustainability of the sector,” said Pedro Bueno, partner at
Manoel Lemos, managing partner at Redpoint eventures, highlights that its fund has been
accompanying Memed since its inception and has participated in all investment rounds.
“We believe in the vision of the founders and in the company they created, and we’re happy to support the
next stage of Memed’s ambitious plan to totally eliminate the use of paper in medical prescriptions in Brazil,
which will accelerate the transformation of the healthcare market, support doctors and improve the
experience of millions of Brazilians,” said Lemos.
As in the previous rounds, Memed remains independent in the implementation of its strategy and now has
more than one important partner in its investor base.
“DNA Capital has acted globally in its practice of venture capital and sees, in this investment, a great
opportunity to transform the health market. Solving the problems related to electronic prescription of
medicines and ensuring that patients can have security in their treatments is a challenging mission and a
great opportunity. Memed is driving the health sector for the future and we want to help it in this process,”
said Luiz Henrique Noronha, partner at DNA Capital.
Born in Avaré, in the interior of São Paulo, in 2012, Memed built the leading digital medical prescription
platform in Brazil. Dispõe the largest and most current drugs and examination database, combined with clinical
intelligence that helps prevent one drug interacting negatively with another, or even when the patient is
allergic to any active ingredient in prescription drug – all in real time. With more than 80,000 registered doctors,
more than 10 million prescriptions generated and R$ 1.2 billion in prescriptions in 2019 alone, Memed today
acts both through its standalone product, as well as integrations with the largest and most important electronic
medical records in the country, clinics, hospitals and health plans.
About DNA Capital
Focused on the healthcare sector, DNA Capital is an investment manager with operations in the venture capital
and private equity segments. With global expertise and leadership in the Brazilian market, the manager
has investments in other large companies in the sector, such as DASA, the largest diagnostics company in Latin
America, Ímpar, a chain of hospitals, and Mafra, the largest distributor of medicines and hospital supplies from
Latin America, in addition to several companies and other geographies, such as
Alto Pharmacy and Clover Health, in the United States. DNA Capital invests globally from its offices in São Paulo
and San Francisco (USA).
About Redpoint eventures
Redpoint eventures is a venture capital firm investing in Latin American startups. The firm partners with
visionary founders using technology to create new markets and solve big problems in existing ones. With an
experienced team in Brazil and in close partnership with two Silicon Valley firms (e.ventures and Redpoint), the
firm help founders secure the capital, talent and growth to succeed further, faster.
Founded in 2012, Redpoint eventures invests across seed, early and growth stages. It manages over $300
million and has more than 40 companies in its portfolio, including Creditas, Gympass, Minuto Seguros, Olist,
Pipefy, Rappi and Resultados Digitais. As part of its mission to support the Brazilian ecosystem, the firm cofounded Cubo (www.cubo.network), the second largest innovation hub in the world, based in Sao Paulo, where
it’s headquartered. For more information, please visit www.rpev.com.br.