Yodawy, a digital healthcare startup, has raised $16 million in a Series B round that was co-led by United Arab Emirates-based MEA-focused venture capital firm, Delivery Hero Ventures and Global Ventures.
Founded in 2018 by Karim Khashaba, Yasser AbdelGawad, and Sherief El-Feky, Yodawy is a leading pharmacy benefits management platform that accommodates the services of over 300 partner companies in the Egyptian market including insurers, healthcare providers, pharmacies, pharmaceutical/FMCG companies, and connects them with business clients and individuals in Egypt.
Adopting a B2B2C model, the Giza-based health-tech startup has partnered with 20 health insurance companies and 500 doctors, and 3,000 pharmacies to deliver medicines and other healthcare products/services to over 4 million users in a timely manner while simultaneously boosting sales figures of pharmacies as they start leveraging the e-commerce model.
According to the company, the fund will be used to finance its regional expansion across the Middle East and Africa, grow its care program for chronic patients, automate its operations to enable larger prescription processing, and advance existing tech-enabled fulfilment capabilities.
The round also witnessed participation from AAIC Investment, Dallah Albaraka, and existing investors Middle East Venture Partners (MEVP), C-Ventures, and P1 Ventures also participated.