MYDAWA has raised funds thrice earlier than, however the newest round marks its largest fundraising occasion yet because it eyes to develop past East Africa.
MYDAYA, an e-pharmacy platform based mostly in Kenya and operates within the East African area, has raised $20 million in funding from Alta Semper Capital. This marks the corporate’s fourth fund driver after launching in 2016. MYDAWA, which presents well being companies by on-line and bodily shops, has additionally bought Guardian Health, a pharmacy chain that operates in Uganda. The agency has not revealed how a lot it paid for the acquisition, however a press release from the corporate says that it’s a part of MYDAWA’s plan to develop its turf into new markets.
The new Ugandan arm has 19 new shops in Kampala and neighbouring areas. MYDAWA provides that it’s actively in search of potential acquisitions, collaborations, and promising startups throughout Africa. It can also be excited about partaking with extra companions and value-add buyers because it expands.
In a press release by the MYDAWA, the corporate mentioned, “MYDAWA is also partnering with other major health providers and businesses. Sales of its own brand products to wholesalers, clinics, pharmacies and supermarkets are growing rapidly. Sales of its services, from telehealth to fulfilment, are commencing with some of Kenya’s biggest clinic chains to expand their reach. It is partnering with insurers and others to develop and fulfil best practice chronic care as illnesses such as diabetes become an increasing issue in Africa. It provides rich data to partners.”
Alta Semper’s CEO, Afsane Jetha, says, “This investment marks our entry into digital healthcare in Africa, which we see as a major growth area across Africa in the coming years. MYDAWA was the logical choice for us as their groundbreaking technology, underpinning a scalable business model along with regulatory know-how and market entry experience, mapped so well to our own strategy. The drive to increase access to good advice and safe and affordable medication is core to our overall mission of democratising access to health and wellbeing across the African continent.”
Before immediately’s fund, MYDAWA had raised a bit of over $9 million in earlier rounds. Its seed round occurred in March 2017, when it raised $1.5 million from Indigo Partners. Two years later, it staged a Series A round with $3 million raised from Africa HealthCare Master Fund and Indigo Partners. Then in the direction of the tip of 2021, MYDAWA raised $1.2 million from Bill & Melinda Gates Foundation.
During the reveal of the fund, MYDAWA introduced the appointment of Pricillah Muhiu as its enterprise lead in Kenya. Priscillah labored at Glovo as common supervisor for the Kenyan market. “Under Priscilla’s leadership, there is already significant expansion of both consumer and business-to-business activities,” says MYDAWA.
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