CAIRO: In a post-pandemic era, people have never been more conscious of their well-being, including physical well-being and widespread health issues.
COVID-19, on the other hand, has had a significant impact on technology.
As quarantines and social distancing became the daily norm, people turned to digital technologies to interact with the world, especially in healthcare.
The result: Healthcare has become one of the fastest growing sectors in the world, giving rise to newer business models such as telemedicine and next-generation managed care. Arab News has compiled a list of the 10 most funded health tech startups in the Middle East and North Africa.
Vezeeta
Total funding: $73 million
Founders: Amir Barsoum and Ahmed Badr
Investors: BECO Capital, Silicon Badia, Vostok New Ventures, Crescent Enterprises CE-Ventures, Endeavor Catalyst and STV
Headquarters: Egypt
Founded in 2012, Vezeeta provides appointment management software for doctors and healthcare providers to better manage their operations.
The company also provides patients with a free platform to book their appointments as doctors can opt into the platform with a subscription model.
In 2020, Vezeeta managed to secure $40 million in a Series D funding round to launch new products and launch its telemedicine services.
Altibbi
Total funding: $52.5 million
Founders: Jalil Labadi and Abdel Aziz Labadi
Investors: Foundation Holdings, Hikma Ventures, Global Ventures and DASH Ventures
Headquarters: United Arab Emirates
Founded in 2008, Atlibbi is a digital platform that allows users to receive remote medical consultations and connect with professionals through calls and text chats.
The company has over 10,000 physicians on its platform and won the World Summit Award for Best Digital Health Content Award and the Schwab Foundation for Social Entrepreneurship.
In its most recent funding round, Altibbi raised $44 million in a Series B funding round in March 2022 to enhance its technology and e-pharmacy services.
Bayzat
Total funding: $31 million
Founders: Talal Bayaa, Tarek Bayaa and Brian Habibi
Investors: Mohammed Bin Rashid Innovation Fund, Point72 Ventures, Mubadala, Beco Capital, Silicon Badia and Hamed Kanoo Co.
Headquarters: United Arab Emirates
Founded in 2013, Bayzat is a web and mobile application that allows customers to buy and sell health insurance.
The company’s health tech platform compares health plans and gives them the best options. The company raised $16 million in a Series B funding round in 2019 and used its funding to strengthen its technology and better serve its customers.
It also offers HR solutions for companies.
GluCare Health
Total funding: $20 million
Founders: Ali Hashemi and Ihsan Almarzooqi
Investors: Polymath Ventures
Headquarters: United Arab Emirates
Founded in 2020, GluCare provides in-clinic and virtual diabetes care for its patients with its data monitoring and artificial intelligence.
The company’s application allows patients to connect with a care team to monitor glucose, insulin, food intake and more.
selfologi
Total funding: $18 million
Founder: Tamer Wali
Investors: Xenel
Headquarters: United Arab Emirates
Founded in 2020, Selfologi is an online aesthetic medical treatment platform that allows users to book appointments with doctors in areas such as botox, hair removal, acne scars and more.
The company raised its $18 million investment in a round led by its founder and angel investor Tamer Wali, with participation from international group Xenel.
Tamer Wali, founder of Selfologi.
okadoc
Total funding: $12 million
Founder: Fodhil Benturquia
Investors: Abu Dhabi Investment Office, Ithmar Capital and iGan Partners
Headquarters: United Arab Emirates
Founded in 2018, Okadoc is an appointment booking platform provider that enables people to search for the nearest clinic, doctors and hospitals.
In 2020, the company closed its $10 million Series A funding, expanded its operations and promoted its telehealth offering and virtual consultations.
Yodawy
Total funding: $8.5 million
Founders: Karim Khashaba, Yasser Abdel Gawad and Sherief El-Feky
Investors: Global Ventures, MEVP, Algebra Ventures, CVentures, P1 Ventures and Athaal Angel Investors Group
Headquarters: Egypt
Founded in 2018, Yodawy is a virtual pharmacy that provides a marketplace for people who want access to medicines with over 3,000 pharmacies.
In mid-2021, the company secured $7.5 million in a Series B funding round to build its digital marketplace to serve its broad range of customers.
Aumet
Total funding: $8.5 million
Founders: Yahya Aqel and Shahed Altawafsheh
Investors: 500 Startups, Right Side Capital, TechStars, Shorooq Partners and Plug and Play
Headquarters: Saudi Arabia and Jordan
Founded in 2020, Aumet is a B2B marketplace for healthcare providers to buy consumables from retailers. In 2020, the company raised $1.25 million in a seed funding round and had not disclosed its later investments.
Medsia
Total funding: $5 million
Founders: Hamed Ahmadi and Sina Torabi
Investors: Merus Capital, Naples Technology Ventures and Candou Ventures
Headquarters: United Arab Emirates
Founded in 2018, Medsien is a chronic disease management platform for healthcare professionals operating in the United Arab Emirates and the United States.
The company raised $4.3 million in its seed funding round to strengthen its presence in the United States and expand its offering.
health at hand
Total funding: $4 million
Founder: Charlie Barlow
Investors: Simon Charlton and Rockfirst Capital
Headquarters: United Arab Emirates
Developed in 2015, Health at Hand is a mobile application that provides virtual consultations for patients suffering from non-urgent conditions such as colds, coughs and others.
The company raised all of its funding in a seed round in 2017 to advance its technology and launch its subscription-based model.
