Contro, a popular Telehealth company in South Africa, raises $5.6 million in pre-seed funding.
The company had started the funding earlier but just announced the completion of the pre-seed investment round, which has given it an income of $5.6 million.
Different popular fast-growing international and local business icons and organizations, which are iCubed Capital, Plug & Play, Jozi Angels Network and the popular WZ Capital, are prominent contributors to the investment.
It must be noted that some other local VCs and international Angels contributed to this, including the i3 fund backed up by Bill and Melinda Gates Foundation, which gave the Control a monetary grant to help them.
Read also: HealthTech Startup, Lifestores Healthcare, Secures $3 million pre-Series A Funding Round
Throw Back To The Foundation of Contro
The South African start-up, Contro, founded by Alex Schmid, was founded recently in the year 2021 with a focus and concentration on sexual health and confidence treatment.
As of the time of writing this article, the start-up (Contro) has six services it is currently running, including childbirth control subscriptions, erectile dysfunction and hair loss treatment. They also provide real and total treatment for Sexually Transmitted Infections, UTIs and Thrush.
Since its launch, the company has helped and facilitated therapy for many people, counted to be over 2000 across South Africa and has grown beyond imagination and is currently rated as one of the fastest-growing start-ups in the country.
However, the Contro team started the development of the platform in 2019 with the hope and aim of demonstrating product-market before going out to look for funding, which they finally did.
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What are they saying?
Sir Alex Schmid, the founder of Contro, in an interview, spoke and made the public know that their success to date has shown that it is good to keep the customer first in business as it is the key to creating a successful direct firm-to-consumer business in the country, South Africa.
He also made known how they have been able to build a service which fundamentally makes access to be effective and discreet like it has never been, which is achieved by understanding the barriers to entry and making points individuals go through when seeking healthcare services.
He further added, commending his team and their hard work by saying that he is proud of the work they have produced, the time dedicated to the business, as well as the weekend sacrificed and given up, which has brought the company to where it is currently.
Highly known investors who have witnessed the determination, seriousness, and potential of Contro have decided to back up the company. These personalities and companies include but are not limited to the Bill & Melinda Gates Foundation and the Angels.
Alex Schmid further made known the intentions of the company to make use of its capital to enhance the platform, grow its team and extend its services and, in the end, expand across the country, South Africa, as 30% of its customers are from South Africa. This, therefore, has brought about the intentions of the company to build on its current momentum and control over those markets and even beyond that.
He further added, touching on the achievements the company has made in this short period, which he said to be creating an accessible and affordable Service for all the citizens of South Africa.
He further concluded with these words, “As a South African founding team, this has humbled us, and this achievement is what drives us to continue to develop our platform and company to deliver healthcare to all” in South Africa.
There is no doubt that the company Contro is one of the few companies that can facilitate medication delivery and consultation anywhere in South Africa at large.
It has grown in some popular places in South Africa, such as Alexandra, Khayelitsha and Soweto and also in rural areas in the country.
Hence, it is believed that this fund of $5.6 million will go a long way to make the company Contro enlarge, expand and grow beyond its current achievements and increase the team’s income.