Yodawy, a digital healthcare firm, has raised $16 million in a Series B round headed by Delivery Hero Ventures and Global Ventures, based in the United Arab Emirates.
Yodawy is a leading pharmacy benefits management platform started in 2018 by Karim Khashaba, Yasser AbdelGawad, and Sherief El-Feky. It connects the services of more than 300 partner companies in the Egyptian market, such as insurers, healthcare providers, pharmacies, and pharmaceutical/FMCG companies, with business clients and individuals in Egypt.
Using a B2B2C model, the Giza-based health-tech startup has partnered with 20 health insurance companies, 500 doctors, and 3,000 pharmacies to deliver medicines and other healthcare products and services to more than 4 million users on time while also increasing the sales of pharmacies as they start to use the e-commerce model.
The company says it will use the money to finance its growth in the Middle East and Africa, grow its care program for long-term patients, automate its operations to handle more prescriptions, and improve its tech-enabled fulfillment capabilities.
AAIC Investment and Dallah Albaraka also took part in the round, along with existing investors Middle East Venture Partners (MEVP), C-Ventures, and P1 Ventures.