Yodawy, a digital healthcare startup, raises $16 million in a Series B round. The round was co-led by Delivery Hero Ventures and Global Ventures. The round also witnessed participation from AAIC Investment, Dallah Albaraka, and existing investors Middle East Venture Partners (MEVP), C-Ventures, and P1 Ventures also participated.
“Our focus on products that solve fundamental challenges in the sector has enabled the company to become the leading digital pharma powerhouse in Egypt and the partner of choice for insurance companies and payers at large. Yodawy will continue to invest heavily in building one of the most inclusive and sophisticated pharma value chains across the Middle East and Africa’s $100 billion pharma market,” Karim Khashaba, co-founder and CEO of Yodawy, said.
The startup will use the funds to grow its care program for chronic patients, automate its operations, which will enable prescription processing at a larger scale, advance existing tech-enabled fulfillment capabilities and finance its regional expansion.
Yodawy was founded in 2018 by Karim Khashaba, Yasser AbdelGawad, and Sherief El-Feky and is now a leading pharmacy benefits management platform. This latest funding brings the startup’s total capital raised to $24.5 million.
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