Healthech startup Sotech raises US$1m pre-Seed funding round to grow its market

EGYPT – Sotech, a healthech and IoT solutions startup, has successfully raised US$1 million in its latest pre-Seed funding round led by Innlife investments and key corporate investor Al Raya Kuwaiti. The Egypt-based firm intends to use the freshly raised capital to extend its operations to 500 locations and grow its market beyond Egypt, including Mecca and Madina. Founded in 2020 by a group of Tech, Marketing, and Healthcare enthusiasts during the pandemic, the Egypt-based startup specialises in smart IoT, trackable OOH advertising, and data gathering. By providing fully integrated…

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Healthtech startup 54gene secures US$25m Series B round to advance its capabilities

NIGERIA – 54gene, a health technology company advancing African genomics research for improved global health outcomes, has secured US$25 million in a Series B round to advance its capabilities to contribute to global drug discovery. The round was led by Cathay AfricInvest Innovation Fund and also included participation from Adjuvant Capital, KdT Ventures, Plexo Capital, Endeavor Capital, Ingressive Capital and others, brings 54gene’s total investment to date to more than US$45 million. “It’s truly incredible to witness the impact of African scientists in global research and it is critical to…

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Healthtech startup Aviro Health secures pre-series A funding round to improve its clinic

SOUTH AFRICA – Aviro Health, a healthtech startup, has secured an undisclosed amount of funding in a pre-series A funding round led by ASISA ESD Fund (managed by Edge Growth), Tuksnovation, and TIA. The funding will be used to expand and improve the Aviro Pocket Clinic, a digital counselling service that is available through health providers in both the public and private sectors. In addition, the funding will enable the healthtech company to grow and expand its overall impact both in its HIV self-testing and into new use cases in…

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MedTech startup DataPathology raises US$223,000 to improve their services

MOROCCO – DataPathology, a MedTech startup specializing in digital pathology, is raising 2 MDH (US$$223,000) to transform the pathological diagnosis system and improve the services provided to practitioners and patients. This capital increase was carried out with the investment company Witamax, founded by Southbridge A&I and Axxam Family Office. DataPathology raises 2 MDH from the investment company Witamax, founded by Southbridge A&I and Axxam Family Office. The objective of this operation for the start-up is to transform the pathological diagnosis system and improve the services provided to practitioners and patients.…

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Amethis acquires minority stake in pharmaceutical distributor Avacare

SOUTH AFRICA – Amethis, an Africa-focussed investment fund manager has acquired a minority stake in Avacare, a key regional distributor and manufacturer of both pharmaceuticals and healthcare consumable products across South Africa. The fund manager focused on the African continent will support Avacare in its project to strengthen its pharmaceutical products. Avacare is a pan-African distributor and manufacturer operating across several African countries among them Namibia, South Africa, Lesotho, Botswana, eSwatini, Zimbabwe, Zambia, and Kenya. Avacare, which has been in existence for 25 years, is also thinking of expanding its presence in…

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Haltons pharmacy enters Ethiopian market

ETHIOPIA – Haltons pharmacy, a retail pharmacy chain dispensing prescription and non-prescription pharmaceutical products has opened a branch in Addis Ababa, becoming the latest Kenyan entity to make entry into the neighboring country. Haltons is a subsidiary of mPharma, a patient-centered and technology-driven healthcare company. The pharma retailer has 27 stores across Kenya. The Ethiopian store is located at Sarbet, a suburb in the capital Addis Ababa. The entry also involves Belayab Pharmaceuticals, through a franchise agreement signed in March this year, 2021. The new pharmacy in Ethiopia is intended…

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Healthcare group Mediclinic in US$139m renewable power deal with Energy Exchange

SOUTH AFRICA – Mediclinic, the Southern Africa division of private hospital group, Mediclinic, says it has entered into an agreement with Energy Exchange to procure renewable electricity, in a deal worth R2.1 billion (US$139 million). The company did not divulge the volume of power to be sourced from Energy Exchange but said the move was part of its ambitious goal of becoming carbon neutral by 2030. Energy Exchange is an aggregator that allows independent power generators in the country to sell renewable energy for use by industrial and commercial entities.…

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Beyond Capital Ventures makes its maiden investment in health tech startup Viebeg Technologies

RWANDA – Newly launched impact venture capital firm Beyond Capital Ventures has announced its first investment in Viebeg Technologies, a health tech startup that deploys technology to offer medical supplies of high-quality medical supplies and equipment throughout Central and East Africa through an innovative data-driven procurement platform. Beyond Capital Ventures joins its co-investment partners Beyond Capital Fund and Eckenstein Geigy Stiftung in Viebeg’s pre-seed funding round. Beyond Capital Ventures General Partner Eva Yazhari will join Viebeg’s Board of Directors. Viebeg Technologies was founded in 2018 by Chief Executive Officer Tobias…

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Start-up Zoie launches digital health, wellness clinic for women

SOUTH AFRICA –  Zoie Health Technologies has launched a digital women’s health and wellness clinic, which allows users to get healthcare advice from professionals. The clinic, Zoie Health, provides virtual consultations with medical providers, group consultations and community forums, where users can interact with each other or get advice from health experts. Zoie Health founders Thato Schermer and Dr. Nonhlanhla Sitole say the platform was inspired by personal experiences and noticing the growing need for digital healthcare that is targeted at women. “We realized that although there is a lot of…

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Japan to increase its JICA grant to Egypt for the development of Abu al-Rish Japanese Hospital

EGYPT – Egypt and Japan signed an agreement to increase the value of the Japan International Cooperation Agency (JICA) grant to become US$19 million. The agreement aims to construct the new outpatient clinic of the Abu al-Rish Japanese Hospital, which comes within the framework of the distinguished Egyptian-Japanese relations that promote the development of the health sector.  The signing ceremony was attended by Minister of International Cooperation Rania al-Mashat, and Dr. Khaled Abdel Ghaffar, Minister of Higher Education and Scientific Research, who signed the agreement. Ambassador Noki Masaki, the Ambassador…

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