Liki24, a Ukraine-based e-commerce platform for medicine delivery, has raised around €4.2 million from Horizon Capital and existing investors, bringing total funding raised to date to approximately €5 million. This new equity round will support the startup’s ambitious European expansion plans, with Poland being the first international market where Liki24 launched operations last month.
Founded in 2017, Liki24.com is a marketplace aggregating offers from thousands of pharmacies and facilitating transactions between pharmacies and consumers. Liki24 launched in Ukraine first, addressing three consumer pain points: significant variation in pricing among market players, limited availability of medicines in one point of sale, and lack of home delivery. In less than 3 years since inception, the company has connected 5,000+ pharmacies and completed over 500,000 orders powered by a proprietary software system that integrates with pharmacies’ ERPs, instantly analyzing prices and availability of medicines, developing optimal routes for couriers, thus allowing for rapid delivery to customers at affordable prices. Today, Liki24 has been described as a lifeline for the most vulnerable consumers, often the only viable option for the elderly to receive medicines, as well as people with limited mobility and those living in remote areas.
Liki24 played a crucial role during the coronavirus lockdown in Ukraine to ensure people sheltering at home had access to lifesaving medication. The company partnered with local logistics operators to offer free delivery of medication during the quarantine.
“Our business model proved to be successful in Ukraine, helping customers access more affordable medicines and convenient delivery. This capital raise will enable us to expand our team as well as extend our winning model to the Polish market and finance further international expansion at a time when safe and rapid delivery of medication is critical to the wellbeing of society”, commented Anton Avrinsky, CEO and founder of Liki24.
“Horizon Capital is delighted to partner with Liki24 talented founders and join the company’s impressive existing investor base. We look forward to contributing to the company’s continued growth in the years ahead. Liki24 has an attractive mix of elements crucial for success, including strong founders with a bold vision, drive and demonstrated execution-ability, backed by a highly professional management team. Our investment in Lik24 is consistent with our focus on visionary founders with a clear expansion strategy who seek out a partnership with Horizon Capital to reach new heights”, said Lenna Koszarny, Founding Partner and CEO at Horizon Capital.