Africa Health Holdings, a healthcare startup that is responsible for overseeing operations of many hospitals has landed $18 million in the company’s first significant capital financing (a Series A round).
The acquired funds will go towards building the company’s “tech-forward healthcare system” in Ghana, Kenya and Nigeria.
The Series A round is led by Asia Pacific Land and Natural World Limited. The round was met with participation of a good number of investors such as Breyer Capital, M3, Valiant Capital, Kepple Ventures and SUNU Capital.
Africa Health Holdings is based in West Africa, and will employ the newly-acquired capital to spread its telemedicine services beyond Ghana to countries such as Nigeria and Kenya. This was confirmed by the startup company’s CEO Sangu Delle.
This plan is in accordance with the startup’s plan to ensure the growth of its portfolio past in-person visits, and to allow follow-ups to take place electronically through the company’s mobile app even as the company gets more users across the continent.
The startup’s mobile app is referred to as MyCareMobile. The app is reported to present users (patients) with access to a wide array of services, including consultations with their doctors which can take place through teleconferencing. Along with these services, the startup also provides patients with access to their test results and a 24-hour emergency response.
The company’s CEO Sangu Delle is a World Economic Forum Global Leader, and a graduate of highly prestigious institutions Harvard and Oxford. He was also previously CEO of Golden Palm Investments, an investment holding company which had particular interest in early-stage opportunities across the continent.
Delle founded Africa Health Holdings to take on Africa’s out of proportion share of the global disease load. He cited an increase in the demand for virtual consultations – especially as a result of the COVID pandemic – as the cause behind an acceleration in his plans for telemedicine. His company currently attends to around 200,000 patients every year, who use the platform for referrals and treatment.