NIGERIA – Pan-African technology-driven healthcare startup, CarePoint has secured a US$10 million bridge round to accelerate its growth across Africa.
The latest funding round was led by TRB Advisors and brings the total funding raised by CarePoint to US$30 million. It follows a US$18 million Series A round announced mid-November last year.
New and existing investors that took part in the bridge round include Delle, Breyer Capital, Beyond Capital Ventures (BVC), M3, Inc, Asia Pacific Land/ Natural World Limited, and Alan Waxman, who is Sixth Street Partners’ CEO.
CarePoint will use part of the funding to build data science and AI teams to reinforce its technological resources, in addition to introducing new products.
Founded by Dr. Sangu Delle, Carepoint is in the process of setting up telemedicine centers in their facilities and building micro-tech-enabled clinics which target the common people.
CarePoint is a subsidiary of Africa Health Holdings, a leading pan-African health technology and management company with a strong interest in developing and transforming healthcare companies across Sub-Saharan Africa.
The startup recently entered Egypt, its fourth market in Africa, after Kenya, Nigeria, and Ghana. It is now eyeing North and East Africa, to continue its growth which is driven by mergers and acquisitions.
CarePoint is backed by five brands, including Sahe in Egypt, Meridian Health Group in Kenya, Rabito Clinic in Ghana and Nigeria’s Care Point, and Lilys Hospitals, all operating a total of 65 facilities.
The platform has micro-clinics that help democratize access to healthcare, taking quality healthcare closer to the people, while making it affordable.
It also allows patients to access care virtually through CarePoint’s MyCareMobile app, which links them to diverse services through teleconferencing, including consultations with their doctors, test results, and 24-hour emergency response.
The startup expansion plans come in the wake of the Covid-19 pandemic where the global attitude towards the health sector has gotten better.
Not only have more funds been channeled to the sector, but entrepreneurs are now turning to technology to bring healthcare services closer to the people.
Today, it’s common to see telemedicine, virtual care, drug delivery, outpatient care, and many other services not obtainable (in Sub-Saharan Africa).
This is thanks to the investments trickling down to healthcare start-ups who are creating innovative solutions to make healthcare accessible more than ever.