Canada-based online pharmacy operator PocketPills has completed a C$30m ($23.7m) series B round led by Telus Ventures, a corporate venture capital unit for telecommunications company Telus.
Venture capital firm WaterBridge Ventures also took part in the round, having led the company’s $2m seed round in May 2019 before returning for to co-lead its $7.4m series A round in February 2020 with an unnamed Canadian family office.
PocketPills provides an online platform where users can submit prescriptions and order medication to be delivered their homes. It packages medication by dose, date and time to simplify the process of organising and taking medication.
The company will deploy the new funding by expanding its product offering and speeding up expansion across Canada. It is also set to open new facilities in the provinces of Quebec and Alberta.
Rich Osborn, managing partner at Telus Ventures, said: “Our investment in digital pharmacy aligns with our mission to digitally transform Canada’s healthcare ecosystem through the power of technology and connect the virtual continuum of care to improve access, experiences and outcomes for all Canadians.”