Healthcare startups in Egypt continue to attract investors. Egypt ranked first by the number of deals in the region, surpassing the UAE in 2019.
With the onset of COVID-19 accelerating digital transformation, Egypt, in particular, has seen a timely boost in the funding activity of several remote telehealth and online booking platforms.
According to MAGNiTT’s 2019 Egypt Venture Investment Report, for the first time in history, Egypt ranked first by the number of deals in the region, surpassing the UAE in 2019. The momentum kept going in 2020 as Egypt again ranked no.1 by the number of deals in H1 (25%) and no.2 by total funding (19%).
Here we will take a closer look at four of Egyptian healthcare startups.
Healthcare Startups in Egypt
Vezeeta is a digital healthcare booking platform and practices management software in the Middle East and North Africa. The company is making healthcare easily accessible in the region with its solutions. Patients are able to search, compare, and book the best doctors in just 1 minute. Also, Doctors provide patients with seamless healthcare experiences through clinic management software on Vezeeta.
Vezeeta was founded in Cairo but it is now headquartered in Dubai.
Vezeeta is funded by 9 investors. Endeavor Catalyst and VNV Global are the most recent investors. The Dubai-headquartered company raised it’s the latest funding on Feb 11, 2020, from a Series D round.
Money Raised: $63.5M
Nawah was launched in March 2015, by Dr. Omar Sakr, who holds a Ph.D. in pharmaceutical sciences from the University of Geneva. Besides, Nawah-Scientific is the first, private, multidisciplinary research center in Egypt catering to natural and medical sciences.
The company’s mission is to empower research in the region by providing scientists with access to state‐of‐the‐art scientific facilities and related know-how.
Nawah Scientific has raised a total of $2.2M in funding over 5 rounds. Their latest funding was raised on Oct 31, 2019, from a Seed round.
Nawah Scientific is funded by 5 investors. 500 Startups and Endure Capital are the most recent investors.
Money Raised: $2.2M
Yodawy is Egypt’s largest online medication ordering and pharmacy benefits platform. The platform enables users to browse and order medications and personal care products through a mobile app. Orders are routed to the best matching pharmacy across a network of 2500+ nation-wide partners. In addition, patients get access through the app to their medical insurance co-payment plan.
Money Raised: $1M
Rology is a teleradiology platform solving the problem of radiologists shortage and high latency in medical reports through matching cases from hospitals from all over the world. Rology decreases the reporting time through the use of an AI-enabled DICOM viewer.
In September 2020, Rology has successfully raised $860K in a Pre-Series A funding round, led by HIMangel. Dubai Angel Investors (DAI), Athaal Group, and The Asia Africa Investment & Consulting all participated in the round.
Money Raised: $860K