Health Tech Company Axmed Secures $6 Million Grant Funding to Expand Access to Medicines in Low- and Middle-Income Countries

Axmed, a health technology company based in Switzerland and Nairobi, Kenya, has received a $6 million grant from the Gates Foundation to enhance the availability of affordable medicines in low- and middle-income countries. The grant, which follows a previous $5 million support from the Foundation, signifies confidence in Axmed's business model. With additional funding from Founderful Ventures, the company has raised a total of $13 million. The new funding will facilitate Axmed's expansion in Africa and support procurement programs in various therapeutic areas, including family planning and malaria products.

Axmed's procurement and logistics platform, designed for fragmented and supply-constrained healthcare markets, has delivered over 1,800 metric tonnes of healthcare products and reached more than 4.2 million patients in 2025. The company recorded 12x year-on-year revenue growth, reflecting strong adoption and sustained buyer trust. Axmed aims to operate in over 20 countries by the end of 2026, with a goal of reaching 50 million patients within three years and over 100 million within five years.

Emmanuel Akpakwu, Axmed's Founder and CEO, emphasized the importance of disciplined execution at scale and the focus on strengthening procurement systems and ensuring reliable access to high-quality medicines. The company's platform serves as a fundamental infrastructure for medicines procurement in underserved markets.