Egypt’s Yodawy secures $16m in funding round backed by regional entities

Egypt’s Yodawy secures $16m in funding round backed by regional entities

Cairo – Mubasher: Yodawy, an Egyptian digital healthcare startup, has raised $16 million in the first close of its Series B funding round that was co-led by the UAE-based venture capital (VC) firm investing across the Middle East and Africa (MEA) region Global Ventures.

Delivery Hero Ventures, the VC arm of leading global food delivery platform Delivery Hero, also participated in the funding round. The VC arm invested in OneOrder’s fundraising process last year.

Yodawy will use the proceeds of the financing to fuel the growth of its signature Care Program for Chronic patients.

A total of 38 cities across Egypt will benefit from the programme that provides monthly medication refills to enrolled patients and processes daily deliveries nationwide.

The funding will also help the startup to carry on with the automation of its operations, in addition to financing its regional expansion plans.

Dallah Albaraka, a diversified international group based out of Saudi Arabia’s Jeddah also participated in the round, along with AAIC Investment, a Japanese fund that is headquartered out of Singapore and provides growth capital as well as long-term support to fast-growing enterprises within the healthcare sector in Africa.

Furthermore, existing investors Middle East Venture Partners (MEVP), C-Ventures, and P1 Ventures, which had invested