Medical Startup, Lifebank Takes Blood to Abuja, Kaduna to Follow

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Medical Startup, Lifebank Expands into Abuja, Kaduna to Follow

Nigerian medical startup, Lifebank has launched its operations in the Federal Capital Territory, Abuja.

This is the first time the startup will venture outside Lagos.

Founded by Temie Giwa-Tubosun, Ayo Michael Olufemi, and Adedayo Ayodele, LifeBank addresses supply and logistic issues in the healthcare sector. By using technology, the startup solves the problem of shortages in medical supplies, most especially blood. They achieve this by compiling inventory information from several medical suppliers and seeking for donors.

Lifebank’s latest expansion into other areas in Nigeria does not come as a surprise. When the startup raised a $200,000 seed round from Echo VC, Fola Laoye (an angel investor) and CcHub in January, it indicated that the funding would be used to drive its growth ‘over the next 18 months’. Part of that growth includes starting off operations in Abuja as well in Kaduna. The expansion, the company believes, will help them get a feel of the public-sector led market.

And keeping true to its word, it has kickstarted its expansion mode.

This expansion is the latest in the strings of achievements Lifebank has made. A few months ago, the startup participated in a three month program called the ‘Merck Accelerator in Germany’. It received up to € 50,000 as well as mentoring from experts. Recently, the startup also emerged as one of the winners at the 2018 MIT Solve Global Challenge, receiving up to $50,000 in equity-free funding.

Lifebank has moved over 1100 products for more than 420 hospitals with more than 6300 donors in its chain. This has earned it lots of traction in its short existence. Not bad at all for a two-year-old startup.


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