Kyberlife is a Singapore-based e-commerce marketplace startup that has raised around SG$1 million in funding working to expand the global medical supply industry.
Singapore-based Kyberlife is an e-commerce marketplace startup for life sciences, pharmaceutical, and healthcare industries. The company has closed an oversubscribed Pre-Series A funding round, raising approximately SG$1 million in combination with its seed funds gathered in August 2021.
The startup facilitates the buying and selling between principals in the aforementioned industries with B2B consumers- scientists, researchers, institutions, academia, businesses, laboratories, and hospitals.
According to Co-Founder and CEO, Ryan James Lim, “With Kyberlife, we are solving an imminent and overlooked problem within these traditional industries where consumers experience a labourious process of searching for products while principals have little control of their products on third-party platforms. It is our mission to achieve an efficient and active network for the community by being the one-stop shop for both parties to communicate and transact with each other. Consumers will experience a higher transparency across products for easy sourcing while the principals will retain full control over their products.”
Mr. Lim expanded on this sentiment, describing the importance of an e-commerce platform for the medical supply industry, as there are several life sciences principals in Europe and the United States that do not intend on entering the Asian market due to a high cost of setup, which was exacerbated by Covid-19 travel restrictions. Kyberlife has given these companies the option to reach out to consumers in new market segments conveniently and safely through its open marketplace.
The startup has secured partnerships with reputable multinational companies like Eppendorf, Merck, Roche, and Tipbio Systems, who share Kyberlife’s vision for a connected global medical supply industry.
In addition, the company is funded and backed by industry leaders and seasoned executive management investors of MNCs. The Pre-Series A round was led by PE Global and industry leaders like James Simkins, the CEO of GETZ Healthcare, Dr. Michael Gorriz, the Global Group CIO of Standard Chartered Bank, and Dr. Soenke Weissenborn, the Group Operations Director for IDS Immunodiagnostics Systems.