Enterprise Ireland has topped up its funding of pharmacy software company Pharmapod with investment of €100,000. The latest allotment brings taxpayer investment in the venture to €400,000 since the company started trading in 2012.
Pharmapod was set up by former pharmacy regulator Leonora O’Brien (pictured). It’s a cloud-based software solution charged for by monthly subscription that allows pharmacists to record and report adverse drug effects to their peers.
The company raised €750,000 through 2014, with investors including Rajesh Patel, Paddy Digan, a former director at with United Drug, Brian McCartan, owner of McCartans Pharmacy in Sutton, the AIB Seed Capital Fund and National Digital Research Centre.
Pharmapod booked a loss of €370,000 in 2014, bringing accumulated losses to €557,000. The company had cash of €401,000 at year-end.
The company tapped four investors for €225,000 in October 2015. Participating in that round were Digan (€100,000), Patel (€50,000), Divyesh Lakhani (€50,000) and Richard Collis (€25,000).
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In December 2015, Pharmapod sourced €102,500 from five more investors, led by Jacqueline O’Donnell (€50,000).
