South African e-health startup Quro Medical has secured ZAR25 million ($1.3 million) in funding from Mineworkers Investment Company (MIC) to further develop its innovative hospital-at-home solution.
Founded in 2018, Quro Medical offers an affordable and accessible alternative to conventional care by combining advanced hardware and software with clinical expertise to manage acutely ill patients in the comfort of their homes.
The startup aims to create the largest virtual hospital ward in Africa, providing superior clinical outcomes at a reduced cost compared to traditional care. Quro Medical leverages real-time, data-driven clinical interventions to drive down healthcare delivery expenses.
The company's Hospital at Home program, launched in 2020, has successfully treated over 1,000 patients with comparable or improved clinical outcomes and enhanced patient experiences.
This recent funding comes after Quro Medical announced the closure of a seven-figure seed funding round in April 2021 and represents an investment from Johannesburg-based MIC, a Black-owned investment company established in 1995 to support the well-being of mine, energy, and construction workers and their dependents.
With MIC's support, Quro Medical plans to enhance its technology, expand its reach, and contribute to improving healthcare outcomes while reducing costs for patients and providers.