Kyberlife closes US$3 mil investment round, sets sight on catalysing growth for Southeast Asia’s life science sector

• Claims to have reduced the average procurement time by 40%
• Funding will drive regional expansion & AI-powered procurement digitalisation

Kyberlife, Singapore’s leading B2B healthcare e-commerce platform, has raised US$3 million (RM13.3 million) in its latest investment round, led by Singapore venture capitalist firm 5I Ventures, with participation from East Ventures, A2D Ventures, and NUS Alumni Ventures. The new capital will support the startup’s regional expansion and its vision to streamline the digital procurement process in the healthcare sector.

The Asian medical market is booming, with McKinsey predicting it will contribute to one-third of global sales by 2025. However, shifts in supply chains and new compliance requirements have made acquiring critical lab equipment more complex and time-consuming. To tackle these challenges, Kyberlife has created an online marketplace connecting global research and healthcare suppliers with laboratories, healthcare institutions, and research centres in Southeast Asia.

Built on a platform-as-a-service (PaaS) model, Kyberlife claims to revolutionise the sourcing process with its open digital marketplace concept. Featuring 1.2 million products from 160 brands, the platform offers a wide range of items, including laboratory equipment and life-science instruments.

As a one-stop shop, the startup enables academic and research labs, as well as other healthcare institutions, to acquire critical equipment, rewriting the norm of lengthy sourcing processes, long lead times, and opaque pricing typical of traditional procurement. By digitising manual workflows and streamlining the supply chain, the platform claims to have reduced the average procurement time by 40%.

The proprietary technology behind the platform is designed to integrate seamlessly with existing procurement enterprise resource planning systems and direct-to-consumer digital workflows. Over the past year, the company has enhanced the buying and selling experience by incorporating emerging technologies such as data analytics and AI to provide personalised product recommendations.

Kyberlife stated that its latest funding round will fuel regional growth, focusing on expanding into Indonesia by onboarding local vendors to grow cross-border. It also aims to broaden its supplier and customer network in Southeast Asia, targeting a tenfold increase in its vendor portfolio within three years. Additionally, the startup plans to invest in AI to enhance product recommendations, digitalise procurement, and improve sustainability in sourcing and acquiring goods.

"Kyberlife is a platform built by scientists, for scientists. Our vision is to simplify the complex and lengthy process researchers face when sourcing laboratory equipment and supplies essential for R&D in the healthcare industry. We are grateful for the continued support and look forward to connecting more healthcare vendors with institutions to drive R&D efforts in Singapore and the broader Southeast Asia region," said Ryan James Lim, co-founder and CEO of Kyberlife.

“At 5I Ventures, we invest in companies that disrupt industries and provide scalable solutions. Kyberlife’s innovative approach to procurement is a game-changer for the life sciences sector, and we are proud to back their vision,” said Dieter Schlosser, managing partner at 5I Ventures.

Meanwhile, Ankit Upadhyay, general partner of A2D Ventures, said: “We believe in Kyberlife’s ability to redefine how healthcare institutions, government agencies, and laboratories access critical supplies. Their platform’s potential to scale and drive innovation in an industry that impacts millions of lives aligns perfectly with our mission to support transformative startups.”

Wesley Tay, principal at East Ventures, added: “We believe Kyberlife will make a difference in digitising and streamlining procurement processes in the healthcare and life sciences space in Southeast Asia and beyond, while also bringing regional healthcare institutions greater access to global suppliers. We are pleased to welcome Kyberlife to the East Ventures ecosystem and look forward to their success.”

Since its inception in 2021, Kyberlife has attracted a roster of supporters, including Maya Hari, former global vice president at Twitter; professor dr Jeremy Lim, CEO of AMiLi; and dr Michael Gorriz, former global CIO of Standard Chartered Bank — all of whom have played pivotal roles in the company’s growth.

To date, the platform has onboarded leading suppliers such as Merck, Zymo Research, DKSH, Eppendorf, and Sartorius, joining over 160 global brands and 1.2 million SKUs. It serves major customers, including National University Singapore, Duke-NUS, Nanyang Technological University, and the National Cancer Centre of Singapore.