Ilara Health gets $4.2m pre-Series A to expand operations in Kenya
TLDR
- Ilara Health, a health-tech company in Kenya, raises $4.2 million in a pre-Series A round, consisting of debt and equity financing.
- Funding led by DOB Equity, with participation from Philips Foundation and existing investors like AAIC Investment and Black Pearl Investments.
- Funds will be used to expand operations in Kenya and introduce a B2B health and occupational service to improve healthcare accessibility.
Ilara Health, a health-tech company based in Kenya, has raised $4.2 million in a pre-Series A round, comprising both debt and equity financing. The equity round, totaling $2.5 million, was led by DOB Equity, with participation from the Philips Foundation, as well as existing investors such as AAIC Investment, Angaza Capital, Black Pearl Investments, and Perivoli Innovations.
Meanwhile, the debt investment was secured from Alphamundi, Kiva Capital, and Boehringer Ingelheim. This latest round brings Ilara Health's total funding, including debt, equity, and grants, to $11.7 million.
The newly acquired funds will be used to expand operations within Kenya. Moreover, Ilara Health aims to enhance healthcare accessibility for the general populace by introducing a B2B health and occupational service. This service will enable uninsured workers to access healthcare at Ilara Health's network of partner clinics for a fixed monthly fee, thereby deepening healthcare access across the country.
Key Takeaways
Ilara Health is capitalizing on the burgeoning private healthcare sector in Kenya, which has emerged as the preferred option for individuals with medical coverage or those able to afford out-of-pocket expenses. This stands in contrast to government-operated facilities, which continue to suffer from inadequate investment. The current leadership in the country aims to enhance its healthcare services through a new healthcare financing program, promising to revolutionize the accessibility and delivery of public healthcare. However, the establishment of a sufficient number of well-equipped facilities to meet the increasing demand may take considerable time. Kenya boasts around 10,000 privately owned primary care facilities and an additional 7,000 publicly owned ones. Ilara Health has capitalized on this momentum by partnering with over 3,000 clinics, spanning 42 counties in Kenya. These clinics collectively cater to over 5 million patients annually, contributing significantly to the delivery of improved healthcare services across the nation.
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