Yodawy, an Egyptian digital healthcare startup, has raised US$16 million in the first close of its Series B funding.
The company has pioneered a pharmacy benefit management platform in the MENA market by combining technology, experienced pharmacists, and cutting-edge logistics.
Delivery Hero Ventures and Global Ventures jointly co-led the funding round.
The round also included previous investors Middle East Venture Partners (MEVP), C-Ventures, and P1 Ventures, as well as AAIC Investment and Dallah Albaraka.
The total cash raised has now reached US$24.5 million after the US$16 million was raised.
Yodawy, which was founded in 2018, gives its partners—insurance firms, healthcare organizations, pharmacies, and FMCG firms—the ability to reach a bigger clientele and provide patients with an exceptional customer experience throughout all of Egypt.
Almost four million prescriptions have been handled through Yodawy’s platform to date, and in the 18 months since its Series A funding, the company has increased revenue by 400% and worked with 20 of Egypt’s top health insurance providers, 3,000 pharmacies, and more than 300 corporate entities.
The company established a flagship e-prescription gateway that enables doctors to go paperless, and it has also built a national fulfillment infrastructure powered by technology to reach patients throughout Egypt.
“We are thrilled to have the backing of renowned international investors with such deep knowledge in healthcare and technology. According to Karim Khashaba, co-founder and CEO of Yodawy, “Yodawy is revolutionizing how prescriptions are produced digitally by doctors, processed by payers, and delivered to patients’ homes.
The funds raised will be used to expand Yodawy’s renowned Care Programme for Chronic Patients, which provides enrolled patients with monthly medication refills and handles daily deliveries across 38 Egyptian cities.
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