Almouneer, an Egyptian healthtech company, has raised $3.6 million in seed funding to support the development and expansion of its platform for treating diabetes and obesity. The funding round was led by Dubai-based Global Ventures, with participation from other international investors, including Proparco, Digital Africa via the Bridge Fund, Wrightwood Investments, and others.
Almouneer’s platform, DRU, is a patient-centric, digitally-enabled lifestyle and diabetes management platform. It allows patients to upload their medical records, access their latest medical data and current medications, connect with doctors and healthcare personnel via chat or phone, and subscribe to personalised treatment and nutrition plans.
The company plans to use the funding to expand its product offerings, including the launch of patient-customized treatment and nutrition plans, a marketplace for essential consumables, and an app for doctors. Almouneer also plans to expand into new markets across Africa and the Middle East, with Saudi Arabia, the UAE, Nigeria, and Kenya being top of mind for the healthcare company next year.
Almouneer’s seed investment comes on the heels of significant growth for the company. The Giza-based startup serves over 120,000 patients through a network of nine hospitals and clinics in Egypt. The healthtech also reported a doubling of its business volumes and revenue numbers within the past year, according to CEO Noha Khater.
“We are excited to partner with Global Ventures and other leading investors to support the growth of Almouneer and our mission to make healthcare more accessible and affordable for people with diabetes and obesity,” said Khater. “With this investment, we will be able to expand our product offerings, reach new markets, and continue to provide our patients with the best possible care.”
The $3.6 million seed funding round is a significant milestone for Almouneer and a sign of the growing interest in digital health startups in the Middle East and Africa. The company’s focus on diabetes and obesity management is particularly relevant, given the high prevalence of these conditions in the region. DRU has the potential to be a valuable tool for patients with chronic diseases, as it provides them with a convenient way to manage their health and stay connected with their healthcare providers.
Almouneer’s expansion plans into new markets and product categories are also ambitious. If the company successfully executes these plans, it could become a leading player in the digital health space in the Middle East and Africa.