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Nigerian Medtech, MDaaS Global Secures $1m Equity Funding

Tech Gist Africa by Tech Gist Africa
04/18/2019
in Africa, Africa News, News
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Nigerian Medtech, MDaaS Global Secures $1m Equity Funding

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Lagos based medtech startup ‘MDaaS Global’ has secured over $1 million equity funding. Up to 12 investors were involved in the round that commenced on the 15th of March. The startup listed in the US Securities and Exchange Commission and the total offering amount was $1,580,062 while the amount sold was $1,055,496, with about $524,566 left to be sold. The startup however did not disclose if they intend to raise the remaining amount.

Founded in 2016 by CEO Oluwasoga Oni, CFO Genevieve Barnard Oni, supply chain manager Joe McCord and Nigeria country manager Opeyemi Ologun, MDaaS Global is a medtech startup that builds and operates diagnostic centres in Nigeria.


See also: Zimbabwe Receives $400K To Counter Cyber Security


They offer services like; digital x-rays, ultrasound, mammography, as well as chemistry analysis, immunoassay and hematology.

Nigerian venture capital (VC) firm Ventures Platform invested $100, 000 into MDaaS Global last September. This was after the startup’s selection last June into the first cohort of the Techstors Impact accelerator. Last year, the MIT-incubated startup was also accepted into the Havard Innovation Labs Venture Incubation Programme. The platform’s first centre went live in Ibadan at the end of 2017, and broke even in the fifth month. The startup is yet to release a statement regarding this.

 

More on TechGist Africa:

  • South Africa Launches $95m Fund to Grow Small Businesses
  • Nigerian Fintech, ‘Onefi’ secures $5million to Increase Debt Facility
  • AfDB Approves €12.5 million Investment, Targeting SMEs in Francophone West Africa
  • Tofino Capital Invests $150,000 in Lagos-based SeamlessHR
  • Central Bank of Egypt to Invest $57.8 million in Fintech Startups
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