Helium Health Secures $10 million Series A Expansion Round

Helium Health, Nigeria, Liberia, and Ghana-based healthtech startup has secured a $10 million Series A round co-led by Y-Combinator, Global Ventures, and Africa Healthcare Masterfund. Tencent also participated in the funding round. The fund will be used in an expansion drive into more African countries. It plans to hire and expand to Kenya, Rwanda, Uganda, Morocco.

Dimeji Sofowora, Adegoke Olubusi, and Tito Ovia, both Nigerians, founded Helium Health in 2016 to provide medical delivery services, and cater to the lack of structural data in the healthcare sector. They set out to tackle the issue of inefficiency, fragmentation, and lack of data in the African healthcare sector.

Helium Health offers its flagship Electronic Medical Records/Hospital Management Information System (ERM/HMIS) digital solutions to healthcare and insurance providers. Its product suite digitizes data, formalizes monetization, and enables telemedicine for healthcare providers in Nigeria, Liberia, and Ghana. It also develops apps for providers, payers, patients, and partners.

As a result of the presence of coronavirus in Nigeria, Helium Health has experienced a drastic increase in demand. “In the last three weeks since we launched, we’ve had roughly 360 hospitals sign up, and they’ve had thousands of [online] visits already,” Olubusi told Tech Crunch. It generates revenue from a percentage charge on its services and the sales of its products.

In addition to its flagship product, Helium Health is launching a range of new products. One of which is the MyHelium Patient app for scheduling appointments between healthcare providers and patients. The app will also be used to disseminate health information. Others include Teleclinic, HeliumPay, Helium CareCredit, and Helium Cover.