Faks a Paris-based startup that is transforming how pharmacies and pharmaceutical laboratories collaborate has raised 6 million euros to expand its technology team enhance its platform with AI-driven automation and accelerate its expansion across Europe The funding round was led by Speedinvest with additional support from Connect Ventures Seedcamp and FJ Labs
CEO and co-founder Corentin Geoffray stated that the investment is a major step forward in Faks’ mission to modernize pharmacy operations He emphasized that after bringing together key industry players on a platform that simplifies their daily interactions the company is now focusing on advancing its technology to help pharmacies save more time and prioritize their patients
Founded in 2020 by Corentin Geoffray and Félix Pignard Faks provides a centralized digital solution that simplifies and automates interactions between pharmacies pharmacy associations and pharmaceutical laboratories Despite the rapid digital transformation in healthcare the commercial side of pharmacy operations has remained fragmented Pharmacies typically work with over 100 different laboratory suppliers each with its own systems for promotions restocking and customer support Without a standardized and automated system pharmacists often resort to juggling emails handwritten notes and spreadsheets leading to inefficiencies and missed business opportunities
Faks addresses this issue with an AI-powered commercial back-office that streamlines and automates supplier interactions allowing pharmacies to manage promotions claims expired product returns and more through a single easy-to-use interface The platform reduces the administrative burden on pharmacists enabling them to focus on patient care while also optimizing the commercial side of their businesses
The company has already established itself as a leader in the French market with 85 percent of French pharmacies using the platform This includes a network of 17000 pharmacies 500 laboratories and 130 pharmacy associations With this new funding Faks is expanding its research and development team from 7 to 15 employees hiring experts in technology product development and data analytics to further enhance its AI-driven automation capabilities
Faks is also expanding internationally with a focus on Spain and Italy two strategic high-growth markets that present significant opportunities for pharmacy automation By extending its reach into these markets the company aims to provide pharmacies across Europe with the same level of operational efficiency and automation that has been successfully implemented in France
Wissam Nasreddine Principal at Speedinvest highlighted the significant potential in automating pharmacy back-office operations He noted that the growing diversification of pharmacy services combined with their primary role in patient care has made administrative tasks increasingly time-consuming He added that there is a huge opportunity in centralizing all supplier interactions onto a single platform and automating these tedious yet strategic processes with AI He emphasized that Faks has demonstrated an impressive ability to stay focused on the needs of pharmacies helping them work more efficiently while strengthening their relationships with suppliers and associations
As the pharmacy industry continues to evolve automation and AI-driven solutions are becoming essential to reducing operational burdens and improving efficiency By integrating AI into pharmacy workflows Faks is not only making daily operations smoother but also ensuring that pharmacists can spend more time on patient care rather than administrative tasks
With this 6 million euro investment Faks is well-positioned to expand its impact and strengthen its leadership in AI-powered pharmacy management in France and beyond
