Yodawy, in conjunction with Global Ventures and Delivery Hero, has secured an estimated $16 million in its Series B fund.
In 2018, Yodawy was co-founded in Egypt by Yasser AbdelGawad and Karim Khashaba as a health-tech company which offered a refill of medications to enrolled patients and processed the delivery of such medication throughout the country. It partnered with 500 doctors, 3000 pharmacists and 20 health insurance companies. Since its inception, it has processed more than 4 million prescriptions within the health industry.
The company promised to improve its tech capacities to reach more people; this can be seen in its recent launch of an e-prescription gateway which facilitates the daily delivery of medication to about 2000 people.
In 2019, Yodawy secured an estimated $7.5 million in its Series A funds. Investors participating in this digital healthcare fund are P1 Ventures, Middle East Venture Partners (MEVP), and C Ventures. With its recent Series B fund, Yodawy has secured $24.5 million.
Talking about the vision of Yodawy, its CEO Khashaba said, “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 billion pharma market.”
With Yodawy’s network of pharmacies, drug-producing companies, doctors, and other professionals within the health sector can enjoy a seamless process of delivering medications to the end consumers.
