Two years after launching with an unfashionable, but vital, business idea, Lifebank, a Nigerian startup focused on developing a smarter way to deliver blood to Lagos hospitals is getting new funding to expand its service. The startup has closed a $200,000 seed round to drive its growth for the next 18 months. Since its launch, while servicing a sliver of the market which founder Temie Giwa-Tubosun believes exists, LifeBank has moved products valued at $360,000 and has earned revenues of nearly $100,000 from charging a fee for delivery. In total, using WHO-approved equipment, it has moved 9,000 pints of blood.
Investors are backing a startup tackling Nigeria’s blood delivery challenge
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