Egyptian investment firm Ezdehar backs Yodawy with $10m
TLDR
- Egypt-based investment fund management company, Ezdehar, acquires a $10 million minority stake in healthtech company Yodawy.
- This investment marks Ezdehar's entry into the healthtech sector and aligns with their strategy of supporting startups.
- Yodawy operates a marketplace for prescription processing and online medicine orders, connecting patients, medical labs, and insurance companies. The investment will support their expansion plans and enhance their technology-enabled prescription fulfillment capabilities.
Ezdehar, an Egypt-based investment fund management company, has acquired a minority stake in the Egyptian healthtech company Yodawy for $10 million. This move represents Ezdehar's inaugural venture into the healthtech sector and aligns with its strategy of backing startups through its Mid-Cap Fund II.
Established in 2018, Yodawy operates a marketplace where patients can process prescriptions and place online orders for medicines. The platform also facilitates connections between patients, medical labs, and insurance companies.
The investment from Ezdehar—after a $16 million Series B round last February—is intended to support Yodawy's expansion initiatives, which include growing its customer base, enhancing technology-enabled prescription fulfillment capabilities, and generating additional value in the healthcare services market.
Key Takeaways
The Middle East and Africa’s pharma market is said to be worth around $100 billion and across the continent, e-pharmacy providers are springing up to serve businesses and individual customers. These include PharmacyMarts, Chefaa, Vezeeta, mPharma, Lifestores, and Drugstoc. Yodawy, however, aims to build an all-inclusive pharma value chain in the region and claims to have processed over four million prescriptions, as well as partnered with 20 health insurance companies, 3,000 pharmacies, and over 300 corporates in Egypt since its Series A round. This investment is poised to contribute to its overall growth and development within the healthtech landscape in Egypt.
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