Mumbai Angels Invests 2 Crores in AWACS AIOCD, Pharmaceutical Startup
Mumbai Angels has announced an investment in AIOCD Pharmasofttech AWACS Pvt Ltd – a company that’s creating an electronic infrastructure across 550,000 pharmaceutical retailers & wholesalers across the country. This network will churn out a series of information products at different geographic levels, and also service the supply chain and internal sales compilation of several companies. Currently this is at manual data entry mode which will be shifted for the first time to electronic mode.
The Electronic Data Exchange platform being established between companies, wholesalers and retailers is likely to give a series of benefits to all stakeholders in pharma sector. It will reduce data entry errors, cut inventory across the chain, reduce shortages, lead to computerization in retail, reduce expiries, help track down and prevent spurious / adulterated drugs plus give a series of market research products that will help give direction to companies on diverse areas of sales, marketing and new molecule research. The company is already in a operational phase with 2 of their products being subscribed by most of the top 20 companies in pharma sector.
Headed by Mr. Jagannath Shinde who wears a dual hat of leader of a 550,000 association as well as Chairman of a corporate entity – AIOCD Ltd and AIOCD AWACS, the company has an experienced and professional operating team lead by Dr. Shamsheer Shaikh and Mr. Ameesh Masurekar. Dr Shaikh is a medical doctor – diabetologist with over 2 decades of experience in IT Healthcare solutions including Hospital Software products. Mr. Ameesh Masurekar has more than a decade of experience into operational areas spanning leading companies like Eli Lilly, Piramal Healthcare & Panacea Biotec. – details