Alchemy Raises $31M Seed Round Led by a16z to Expand Access to Medications for Underserved Populations

Oct 15, 2024, 02:32 PM

Alchemy has successfully raised a $31 million Seed round led by Andreessen Horowitz (a16z), with participation from Magic Johnson, Sheryl Sandberg, Twine Ventures, Springbank, and AlleyCorp. This funding will enable Alchemy, led by Sid Viswanathan, Peter Park, and Susie Crowe, to continue developing modern pharmacy infrastructure aimed at expanding access to affordable medications for underserved populations and economically empowering safety-net clinics. The initiative seeks to address disparities in access to essential medicines, despite the U.S. spending over $700 billion annually on pharmaceuticals.