Skip to content Skip to Search
Skip navigation

Egyptian healthcare startup raises $16m in latest funding round

Yodawy
Yodawy's revenue grew by 400% in 18 months since its series A round

Egypt’s digital healthcare startup Yodawy has raised $16 million in the first close of its Series B round, the company said in a statement. 

The round was co-led by Delivery Hero Ventures, the venture capital arm of food delivery platform Delivery Hero, and UAE-based Global Ventures. 

Japan’s AAIC Investment and Saudi-based Dallah Albaraka also participated in the new round. Middle East Venture Partners, C-Ventures, and P1 Ventures, who invested in the Series A fundraise, took part in the current round. 

In the 18 months since its Series A round, Yodawy has grown revenue by 400 percent and has partnered with 20 health insurance companies, 3,000 pharmacies, and more than 300 corporates in Egypt. 

The company has built a nationwide and tech-powered fulfillment infrastructure to reach patients across Egypt and launched a flagship e-prescription gateway. 

The gateway allows physicians to go paperless, with seven insurance companies and health management organisations participating in the program resulting in more than 2,000 e-prescriptions generated daily.  

Karim Khashaba, co-founder and CEO of Yodawy, said: “Yodawy is disrupting how prescriptions are produced digitally, by doctors, processed by payers, and delivered to patients’ homes.”

Yodawy will continue to invest heavily in building one of the most inclusive and sophisticated pharmaceutical value chains across the Middle East and Africa’s $100 billion pharmaceutical market, he added.

The proceeds will fuel the growth of Yodawy’s care program for chronic patients, offering monthly medication refills to enrolled patients and processing daily deliveries nationwide across 38 cities in Egypt. 

Beyond Egypt, Yodawy will also ring-fence part of the proceeds to finance its regional expansion.

Brendon Blacker, managing partner at Delivery Hero Ventures, added: “With its innovative business model and rapidly growing customer base, Yodawy is ideally positioned to impact the lives of millions of people who have been underserved by traditional healthcare providers.”  

The latest funding raises the four-year-old company’s total capital to $24.5 million.   

Latest articles

Saudi commercial property. Occupancy rates in Riyadh grew 5 percentage points but fell in Jeddah and Dammam

Interest in Saudi commercial space may be peaking

Weakening demand in Saudi Arabia’s commercial sector suggests the market could be reaching a plateau, a new survey indicates.  The Global Commercial Property Monitor report by the UK’s Royal Institution of Chartered Surveyors (Rics) found that demand for space rose by 20 percent in the second quarter of 2024, compared with a 53 percent rise […]

Aircraft, Airliner, Airplane

Tunisair growth slows as costs rise

Tunisair’s revenue increased by only 3 percent year on year to TND695 million ($224 million) in the first half of 2024, as fuel costs rose and its market share shrank. Passenger numbers went up by 2 percent to 1.17 million, compared to 1.15 million a year ago, the state-run Tunis Afrique Presse reported. Average revenue […]

A cattle drive in the Pantanal region. Meat is a major component of Brazil's trade with Saudi Arabia

Brazil’s JBS to open Saudi food factory as trade ties deepen

Brazilian multinational JBS is to open a food factory in Saudi Arabia with an investment of SAR500 million ($133 million), in a further sign of the strengthening ties between the two countries. JBS, one of the largest meat and poultry producers in the world, will open the facility in Jeddah under its subsidiary Seara by […]