E-healthcare startup MYDAWA secures $3M funding from Africa HealthCare Master Fund
Kenya’s leading e-healthcare platform MYDAWA, has secured a $3M investment from Africa HealthCare Master Fund. This is the first round of external funding the company has received since its inception in 2017.
The funds will go into accelerating a planned countrywide expansion and further advance the company’s overall vision of providing access to affordable, genuine and high-quality medicine as well as health care products.
Neil O’Leary Founder and Chairman of MYDAWA said “Our goal at MYDAWA has always been to be trusted partner for busy Kenyans by a providing convenient, private access to authentic medication and wellness products at very good value. It was very important that a new partner shared this goal which is inspired by the Kenyan aim of improving access to healthcare for all. I am delighted to add The Africa HealthCare Master Fund to the team which brings expertise and international reach as wellas funds.,”
Commenting on the new partnership, Africa Health Care Master Fund Director Susumu Tsubaki said, “It is commendable that start-ups such as MYDAWA are leveraging on the power of new technologies to disrupt the healthcare industry to tackle the region’s challenges of access, quality and affordability of healthcare. Our mission has always been to support healthcare related initiatives in Africa to help them accelerate their operations towards a healthy continent.”
Established in 2017, the Africa HealthCare Master Fund is focused on investing in the healthcare industry in Africa. MYDAWA on the hand was also launched in 2017 and has continued to experience tremendous growth. The startup has signed up over 80,000 registered users.
MYDAWA Managing Director Tony Wood said, “We remain focused on building a platform that enables Kenyans to access quality medication and products without having to dig deeper into their pockets”.
In addition, the platform has also partnered with a number of Insurance companies to ensure that medical policyholders also benefit from the solution- a move that gives longevity to their insurance cover since prescription medicines are on average 20% cheaper.
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