MDaaS Global, a health tech startup that operates a network of diagnostic centres in Nigeria, has announced a $3 million pre-Series A funding round to grow its startup, which was founded in 2017 by Oluwasoga Oni, Opeyemi Ologun and Genevieve Oni, provides a range of diagnostic services, such as imaging, cardiac, and lab tests, at affordable prices. The startup also launched BeaconOS, a proprietary technology platform that powers its network, last year.
With the new funding, MDaaS plans to launch more company-owned and affiliate clinics across Nigeria, aiming to cover all 36 states in the next few years. The startup currently has 17 diagnostic centres in 10 states, serving over 275,000 patients since its inception.
Aruwa Capital and Newton Partners, who also led the startup’s $2.3 million seed extension in 2021, led the funding round. Ventures Platform also participated in the round, bringing MDaaS’ total funding to $6.8 million.
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MDaaS Global mission to revolutionise healthcare delivery in Africa
MDaaS’ vision is to make quality diagnostics accessible and affordable for millions of Africans who lack access to reliable and timely healthcare. The startup leverages its BeaconOS platform to streamline operations, optimise workflows, and manage data across its network.
The startup also offers SentinelX, a personalised care programme that allows patients to pay a one-time fee for yearly access to a doctor and discounted diagnostic tests. The programme is especially beneficial for women, who make up over 60% of MDaaS’ patients, as it helps them monitor their reproductive health and prevent complications.
The startup’s impact and growth potential impressed the investors, who praised MDaaS’ dedication to improving healthcare outcomes in Africa.
Adesuwa Okunbo Rhodes, the founder and managing partner at Aruwa Capital, said:
“We are thrilled to partner with MDaaS Global on their mission to revolutionise healthcare delivery in Africa. MDaaS’ track record of consistent and impressive growth, as well as its dedication to bringing high-quality diagnostics to high-need patients, resonated deeply with us. “As a gender-lens investor, we are especially excited to support a company that is driving change for women across Nigeria — over 60% of BeaconHealth patients are women, predominantly of reproductive age — and MDaaS shares our commitment to building gender-diverse teams.”
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A bright future ahead
MDaaS’ co-founder and CEO, Oluwasoga Oni, expressed his gratitude for the investors’ support and confidence in the startup’s vision. He also shared his optimism for the future of the startup and the healthcare sector in Nigeria.
“We are grateful for the support of our investors, who share our belief that quality diagnostics are the foundation of effective and affordable healthcare. With this funding, we will continue to scale our network of diagnostic centers and invest in our technology platform to deliver better care to our patients. “We are excited about the future of healthcare in Nigeria and Africa, and we look forward to partnering with more stakeholders to achieve our mission.”