Okadoc secures Pre-Series B funding
UAE’s medical reservations and advisory platform, Okadoc, has secured funding for its Pre-Series B round.
Request specific data sets, export tailored directories, and explore the full potential of our Platform. Reach out to our Sales Team
Dubai HealthTech startup, Okadoc, has raised funds for its Pre-Series B round led by IGAN and Bunat Ventures, with the participation of Bassem Ibrahim Hayel Saeed Group, Club 49, Alesay Group, Bupa Arabic, ADQ, and Now Invest.
Funding in the Healthcare sector across the Emerging Venture Markets picked up during the pandemic and has maintained a steady flow of capital since then. In 2020, the industry recorded a YoY growth of 200% in terms of total capital raised. This year, funding for the industry has almost come on par with the 2021 numbers with 2 months left in the year, albeit with fewer deals. We have seen big rounds being closed by the likes of UAE’s Altibbi.com, which is also the highest healthcare funding round to date. Africa startups including mPharma, africure pharmaceuticals, and Goodlife Pharmacy have each closed $10M+ rounds.
Access our Advanced Analytics feature offering real-time data at your fingertips.
Access our suite of Q3 2022 Reports covering MENA, Africa, Pakistan & Turkey. Browse our latest and pick your data focus
According to a statement by Okadoc, the platform will allow patients to book in-person medical appointments or book consultations online via video technology. In this regard, Fodhil Benturquia, founder and CEO of Okadoc said: “Our goals at Okadoc are to improve the quality of healthcare services for all, and this is what we will achieve by expanding our business in the Kingdom of Saudi Arabia. The path of growth and development of our business.”
The startup will utilize the funding to provide home healthcare services and cloud pharmacies as it expands from the UAE to Saudi Arabia with the help of the recent investment. Khalid Zain Al Abidin, Founder and Managing Partner of Builders Ventures, said: “The healthcare technology sector is growing at a rapid pace and we are very pleased to be a part of Okadoc's growing and continuing expansion, particularly in Saudi Arabia. This type of technology is important and unique, which is what the healthcare sector needs to achieve an advanced qualitative leap in the future, and we look forward to Okadoc becoming a leading and important player in the Saudi market and to be a contributing company to the Kingdom’s Vision 2030.”
Get a diagnosis of the landscape with real-time data on HealthTech startups in MENA
Source: jawlah.co