TL;DR
Liki24 secured $9 million in Series A funding (total raised ≈ $16 million).
Post-money valuation sits around $50 million.
Active in nine countries, stealth-testing another 20.
Over 100 Big Pharma partners enable cross-border price arbitrage.
🚀 Why the round matters
The $9 million cheque is the largest disclosed Ukrainian tech deal of 2025 so far. Investors (u.ventures, TA Ventures, iClub, SID Venture Partners, MA7 Ventures, N1 Ventures, Dnipro VC) are betting on pan-European scale-up, where the EU already accounts for 60 % of revenue.
💊 Business model made simple
Marketplace fee from each pharmacy sale.
Sponsored listings for drug makers.
Upcoming B2B analytics leveraging customer data.
The platform attracts more than three million visitors a month. Average basket: ₴1,600–1,700 (≈ $40–43) in Ukraine and ₴1,700–2,100 in the EU (≈ $45–55).
🌍 “Test–Analyse–Scale” playbook
Silent soft-launch with a few thousand users and trimmed features.
Green-light metrics: low CAC plus sticky repeat orders.
Launch capex: Germany cost up to $100 k; Belgium several times less.
🛡️ Polish lesson
A failed 2022 entry into Poland (regulatory drag) taught Liki24 to stay under the radar until unit economics work.
🔍 The investment thesis
Demographics: an ageing EU means higher drug spend.
e-Prescription: one EU-wide registry lets you fill a Romanian script in Italy.
Price arbitrage: users see where a drug is cheaper and order cross-border.
📈 What’s next
Consumer subscription for recurring revenue.
Smarter logistics for same-day deliveries.
Data products giving Big Pharma direct consumer insight.
📊 Potential market impact
VC confidence boost: more funds may re-enter Ukrainian med-tech.
Strategic players incoming: Series B (projected $100–150 million) could feature Bayer, GSK, Abbott.
Sector consolidation: smaller couriers may merge or exit.
Regulatory ripple: EU states might ease e-pharmacy rules once cross-border volumes grow.