Egyptian digital healthcare startup Yodawy, which has pioneered a pharmacy benefit management platform in the MENA region using technology, expert pharmacists, and state-of-the-art logistics, has raised US$10 million in extra funding, taking its total raised capital to US$34.5 million.
Founded in 2018, Yodawy enables its partners – insurance companies, medical providers, pharmacies, and pharmaceutical/FMCG companies – to service a wider audience and offer an exemplary customer journey to patients, anywhere in Egypt.
The company has built a nationwide and tech-powered fulfillment infrastructure to reach patients across Egypt, and has also launched a flagship e-prescription gateway that allows physicians to go paperless.
Yodawy raised US$16 million in the first close of its Series B round last February, and it has now banked US$10 million more capital from Ezdehar, a direct investment fund management company, through its Ezdehar 2 mid-cap fund. This takes its total raised capital to US$34.5 million.
The investment will support Yodawy’s growth plans, which include expanding its customer base and technology-enabled prescription fulfillment capabilities and creating more value in the healthcare services market.
Yodawy’s CEO Karim Khashaba said his company aims to build a healthcare platform that addresses the main challenges in the sector and strengthens its position in the digital health field in Egypt. He added that the company works with insurance companies and healthcare service providers to improve patients’ access and experience.
“Yodawy has identified and seized an untapped opportunity in the prescription and delivery sector, and has created a model that has proven effective in serving patients and healthcare providers in the market,” said Amir El-Sharqy, general manager of Ezdehar.
