# LifeBank

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lifebank

- Industry: Internet
- Headquarters: Lagos, Nigeria
- Website: www.lifebank.ng
- Total disclosed funding: $0.2M
- Latest round: Seed (Feb 7, 2018)
- Investors on record: 2

## About

LifeBank is a healthcare logistics company dedicated to the rapid delivery of essential medical supplies across Africa, including blood and oxygen, utilizing advanced distribution methods like drones and bikes for efficient service.Founded in 2015 and headquartered in Lagos, Nigeria, LifeBank focuses on the delivery of critical medical supplies. The company has undertaken a Seed funding round, raising USD 0.20 mn from investors including Co-Creation Hub and EchoVC Partners. LifeBank has successfully completed 2 deals to date.LifeBank specializes in the rapid delivery of essential medical supplies across Africa, focusing on blood, oxygen, and various medical consumables and equipment. The company utilizes an advanced logistics system that incorporates a multimodal distribution network, including drones, boats, bikes, and tricycles, to ensure timely delivery to healthcare facilities within 45 minutes. LifeBank’s offerings are designed to provide hospitals with on-demand access to life-saving supplies, thus enhancing the quality of care provided to patients. The firm’s products are sourced from accredited partners that comply with global production standards, ensuring safety and reliability. LifeBank serves a diverse client base that includes hospitals and healthcare providers across multiple countries in Africa, facilitating better healthcare outcomes by ensuring the availability of critical medical resources.LifeBank generates revenue through a direct-to-consumer and business-to-business model, primarily by supplying medical institutions with essential products and services. Transactions are structured around on-demand delivery of medical supplies, where hospitals place orders via various channels, including a call center and mobile applications. LifeBank's revenue model encompasses both one-time purchases for individual medical supplies and ongoing partnerships with healthcare facilities that require continuous access to blood, oxygen, and consumables. While specific pricing details are not disclosed, the company aims to provide competitive rates for high-quality medical products, thereby fostering long-term relationships with clients. This transactional framework enables LifeBank to maintain a steady flow of revenue while contributing to the improvement of healthcare delivery across its operational regions.LifeBank plans to innovate by designing new products aimed at enhancing its service offerings in medical logistics. The company is targeting expansion into new markets across Africa over the next few years, leveraging recent funding of USD 0.20 mn from the Seed round to support these initiatives. Additionally, LifeBank was acquired by 777 Partners, which may influence its strategic direction and operational capabilities.

## Funding rounds

- Seed, Feb 7, 2018, $0.2M — EchoVC Partners, Co-Creation Hub

## Investors

- EchoVC Partners (https://capitalatlas.ai/funds/echovc-partners) — Seed
- Co-Creation Hub (https://capitalatlas.ai/funds/co-creation-hub) — Seed