In a game-changing development for the healthcare landscape, Egyptian healthtech startup Almouneer has successfully raised $3.6 million in seed funding. Spearheaded by Dubai-based Global Ventures, this funding round boasts participation from a consortium of international investors, including Proparco, Digital Africa via the Bridge Fund, Wrightwood Investments, and others. With ambitious expansion plans on the horizon, Almouneer is poised to transform the way chronic diseases, including diabetes and obesity, are managed.
Established in 2016 by founders Noha Khater and Rania Kadry in Giza, Egypt, Almouneer is on a mission to revolutionize healthcare for individuals grappling with chronic diseases. These conditions, which rank as the leading global causes of mortality, represent mounting threats to public health. While Almouneer initially focused on technology-driven clinics, particularly in the field of ophthalmology, it has since evolved to provide operational support to external healthcare providers. Central to its approach is a sophisticated practice management software that encompasses integrated financial systems, electronic health records, and booking systems.
At the heart of Almouneer's offerings lies DRU, a patient-centric, digitally-enhanced lifestyle and diabetes management platform. This innovative platform empowers patients by allowing them to upload medical records, access real-time medical data and current medications, and establish connections with healthcare providers via chat or phone. Furthermore, it offers personalized treatment and nutrition plans that cater to individual needs.
DRU's potential as a valuable tool for chronic disease management cannot be overstated. It not only simplifies health management but also fosters seamless connectivity with healthcare providers. Patients can select customized plans targeting obesity and uncontrolled diabetes, with a focus on blood pressure and blood sugar level management.
Almouneer generates revenue through customized plans and subscriptions, and it also deducts a percentage from the fees charged to doctors for referrals. An integral component of its offering is a marketplace, granting patients access to vital supplies, including blood sugar strips, glucose monitors, limb care products, and diet plans. To further enhance its service ecosystem, the company will launch the DRU app for doctors in Q1 2024, expanding its provider network to include physicians, health coaches, nutritionists, and labs.
Presently, Almouneer extends its healthcare services to over 120,000 patients through nine hospitals and clinics in Egypt. The startup's co-founder, Noha Khater, expressed enthusiasm about the partnership with Global Ventures and other leading investors, highlighting the mission to make healthcare more accessible and affordable for individuals living with diabetes and obesity. This investment sets the stage for the expansion of product offerings, entry into new markets, and an unwavering commitment to providing exceptional care to patients.
Almouneer's success in securing $3.6 million in seed funding represents a significant milestone in its journey to redefine chronic disease care. With a patient-centric platform and a robust revenue model, this Egyptian healthtech startup is poised to make a profound impact on healthcare accessibility and affordability.