To expand its services to other regional markets, MyHealth Africa has raised $1 million in a seed funding round.
Since its founding in 2018, the firm has raised capital a total of twice. The health tech business raised an unknown sum in 2021 with help from Founders Factory Africa.
GIIG Africa Fund headed the investment round, which also included Samurai VC, a family office, and other current investors.
MyHealth Africa plans to increase patient access to regional and international hospitals and healthcare providers, as well as expand its services to the Middle East and South Asia over the next year with the help of this new fund.
MyHealth Africa founder and CEO Ryan Marincowitz discussed the startup’s goals with this funding. The firm will use the funds to expand across Africa rapidly. Our second and third-largest markets, the Middle East and South Asia, will be included in 2023.
“From our office in Kenya, we help hundreds of patients each month from these two markets access specialist healthcare treatments at our network of renowned institutions in the Middle East, Europe, South Asia, and Asia.”
MyHealth Africa has boosted Africa’s startup health sector. Global Startup Awards (GSA) Africa named it Africa’s Top HealthTech Startup in June 2022.
With this exclusive award, GIIG Africa Develop can find, fund, and grow creative businesses across the continent. Bumrungrad International Hospital earned the startup the 2021 Digital Innovation Award.
Read also: How Technology Improves Healthcare in Africa
Africa’s MyHealth healthcare system
Governments struggle to provide healthcare due to a lack of resources and facilities. Pandemics, poverty, and the departure of American physicians in search of better salaries and living conditions exacerbate this.
The lack of medical expertise on the continent hinders healthcare. WHO reports that Sub-Saharan African countries had 0.23 doctors per 10,000 people, compared to the best ratio of 84.2 in industrialized nations.
Starting with Kenya and other African countries, MyHealth Africa has been attempting to use technology to address this major issue. With this seed funding, it is currently spreading to other areas.
According to research by the International Financial Organization (IFC), Africa needs investment to grow and modernize its healthcare industry and offer more accessible services across the continent.
Philip Baldwin, GIIG Africa co-founder and investment round lead investor, remarked,
In the last season of GSA Africa, we learned how MyHealth Africa was changing East African healthcare. Today, we’re thrilled to announce our formal cooperation to spread MyHealth Africa worldwide.
Because of its dedication to ensuring that healthcare services are freely available throughout the continent, the health-tech startup is included on the list of startups in Africa that solve inefficiencies in the healthcare industry.
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About MyHealth Africa
MyHealth Africa, a healthcare platform established in 2017, offers a booking and medical management system to provide patients with access to medical services from doctors and providers around the world, remotely or in person.
The firm claims that over 1,200 patients are helped each month and that, as of 2022, patient visits have climbed by an average of 11% from month to month.
It also says that it has helped more than 27,000 people get specialized medical care from more than 1,500 medical professionals.
One service offered by the startup that can be accessed through its app is making appointments with hospitals, doctors, and other healthcare providers.
Additionally, it keeps track of your medical history, keeps tabs on allergies and chronic ailments, recommends travel-related medical care at some of the greatest hospitals in the world, and does much more.