London tech company, Zeal Software Solutions, has received a loan from HSBC UK to support the launch of its new software solution for the pharmaceutical industry, Medicostores.com. The app connects manufacturers, stockists, wholesalers, retailers and hospitals, to streamline supply chains within the sector.
The app will initially launch in India with the view to eventually expanding into UK markets. The funding from HSBC UK will be used to facilitate the set-up of servers, as well as financing the promotion of the app itself. The app enables a network of buyers and sellers to carry out end-to-end transactions and access details such as inventories, stock availability and the expiry dates of individual products.
Nagendra Yenugula, Director at Zeal Software Solutions, said: “India offers unique opportunities within the pharmaceutical industry, where much of the correspondence between buyers and sellers has previously been a time consuming, manual process. Medicostores.com provides a digital solution to support the supply chain at a time when demand for pharmaceutical stock has been at an all-time high.
“The funding from HSBC UK will be vital in helping us promote this new technology in order to drive sales and increase our share of the market. Following the launch in India, we aim to continue to expand the company and adapt the technology for the UK.”
Jenni Adams, Regional Director, Small Business Banking, HSBC UK added: “HSBC UK is pleased to support Zeal Software Solutions as it launches its new app this summer. The pressure on the pharmaceutical industry throughout the pandemic has meant that innovative technology and efforts to streamline distribution are all the more important.