A Kenyan e-health startup, MyDawa has announced securing $20 million from Alta Semper Capital, a private equity investor to expand geographical footprints and product offerings.
The startup’s CEO Priscilla Muhiu, confirmed the funding in a statement on Monday.
MyDawa, which debuted in 2016, has expanded beyond being an online pharmacy to offer laboratory services at its growing network of walk-in pharmacies and health centres, as well as online and in-person consultations.
MyDawa co-founder Neil O’Leary said: “Alta Semper’s ambition exactly matches that of MyDawa, and it brings the drive, connections and clout to succeed.
“Three years ago, AAIC, a Japanese-backed African healthcare fund, joined as our first external investor and now the team has been augmented in the strongest manner possible.”
Another acquisition and partnership that the e-health startup hopes to make as it extends outside of Kenya is Guardian Health in Uganda.
In order to combat the spread of HIV/AIDS by enhancing access to PrEP (Pre-Exposure Prophylaxis) medication, the startup raised $3 million from the AAIC’s Africa Healthcare Fund in 2019 and has also obtained $1.2 million grant financing from the Bill & Melinda Gates foundation.