Yodawy, an Egyptian digital healthcare startup, has raised an additional $10 million, bringing its total capital raised to $34.5 million.
Yodawy, which was founded in 2018, gives its partners—insurance companies, hospitals, pharmacies, and pharmaceutical/FMCG businesses—the ability to serve a larger clientele and provide patients with an excellent customer experience wherever in Egypt.
Yodawy is the first in the MENA region to pioneer a pharmaceutical benefits management platform through the use of technology, skilled chemists, and cutting-edge logistics.
The company launched a flagship e-prescription gateway that enables physicians to go paperless and has constructed a statewide, tech-powered fulfillment infrastructure to serve patients throughout Egypt.
After raising US$16 million at the first closure of its Series B round in February of last year, Yodawy has now secured an additional US$10 million in funding through its Ezdehar 2 mid-cap fund from Ezdehar, a direct investment fund management organization. With this, it has raised $34.5 million in capital in total.
Karim Khashaba, the CEO of Yodawy, stated that the company’s goal is to develop a healthcare platform that tackles the major issues facing the industry and enhances its standing in Egypt’s digital health space. To enhance patients’ access and experience, he continued, the organization collaborates with insurance companies and healthcare service providers.
Amir El-Sharqy, general manager of Ezdehar, stated, “Yodawy has identified and seized an untapped opportunity in the prescription and delivery sector and has created a model that has proven effective in serving patients and healthcare providers in the market.”
The funding will help Yodawy achieve its expansion objectives, which include growing its clientele and offering technology-enabled prescription fulfillment services to add greater value to the healthcare services industry.
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