Cameroonian healthtech Waspito gets $2.5m seed extension
Cameroonian health startup Waspito has secured a $2.5 million seed extension from investors, including DP World, Newtown Partners, Saviu Ventures, AAIC Investment, Axian Ventures, and CFAO’s Health54. The funding will be utilized to bolster Waspito's expansion initiatives, with a specific focus on advancing its presence in the Francophone region.
Often likened to the 'Facebook for healthcare,' Waspito is a health-centric social network that empowers users across Africa to seamlessly connect with verified doctors through instant video calls, diverging from traditional telemedicine models that involve pre-registration and appointment booking.
Given the scarcity of doctors, with fewer than 2 for every 10,000 people in target countries, Waspito aims to bridge this gap by offering a comprehensive platform for all healthcare services. The platform enables patients to make payments through various channels, including insurance, thereby incentivizing doctors to remain available online for extended periods.
The surge of the COVID-19 pandemic significantly expanded the digital health ecosystem in Africa, prompting numerous startups to address existing and emerging challenges in the healthcare sector. The innovative response to the pandemic is leading to a transformation of the healthcare system throughout the continent. The industry is revolutionizing patient care through various means, including applications, wearables, and remote companions. Additionally, African governments are engaging in partnerships with technology innovators to fortify the healthtech ecosystem. A Salient Advisory report found nearly 50 collaborations in 2022 between health startups and African governments. Available data suggests the digital health market in Africa will experience a growth rate of 15.42% between 2023 and 2027, resulting in a market volume of $10.42 billion by 2027. This underscores the significant potential for expansion and innovation in the African digital health landscape.