Egyptian healthcare startup Almouneer has hit the jackpot, raising a whopping $3.6 million in a seed round led by Global Ventures. The funding extravaganza, which also featured investors like Wrightwood Investments, Proparco, and Digital Africa through the Bridge funds, is set to catapult Almouneer into new horizons, including the vibrant healthcare landscape of Nigeria.
Chronic Care Revolution
Almouneer’s mission is nothing short of revolutionary: transforming healthcare for individuals grappling with chronic conditions, particularly hypertension and diabetes. In Sub-Saharan Africa, where chronic diseases are on the rise, this startup’s ambitions align with a critical need.
Chronic Diseases in Focus
The Lancet reports a surge in non-communicable diseases (NCDs) in Sub-Saharan Africa. Currently, NCDs claim a staggering 70% of global deaths, with Nigeria grappling with almost 30% of all deaths attributed to these conditions. Alarming statistics underline the urgency for innovative healthcare solutions.
NCDs: The Silent Predators
NCDs, including cardiovascular diseases, cancers, respiratory diseases, and diabetes, loom large on the mortality landscape. By 2030, NCDs are projected to outstrip the combined impact of communicable, maternal, neonatal, and nutritional diseases in Sub-Saharan Africa.
Almouneer’s Evolutionary Journey
- Ophthalmology to Chronic Care: Almouneer’s inception in 2017 saw it as a tech-driven ophthalmology clinic. However, recognizing the pressing need for chronic care, it pivoted towards offering support to healthcare providers and launched the DRU app.
- DRU App: A Lifesaver DRU, Almouneer’s patient-centric app, is a digital lifeline for those with chronic conditions. Users can upload medical records, schedule tele-consultations, and connect with healthcare professionals seamlessly.
- Revenue Streams: Almouneer has devised a savvy revenue model, generating income through custom patient plans and subscriptions on the DRU app.
With the freshly secured funds, Almouneer has ambitious expansion plans slated for Q1 2024. Nigeria, Saudi Arabia, the United Arab Emirates, and Kenya are on the startup’s radar for scaling its transformative healthcare services.
Almouneer’s co-founder, Noha Khater, envisions an enhanced range of services and product expansion fueled by the recent funding surge. A significant portion of the funds will also fortify the development and expansion of Almouneer’s digital presence.
Year of Triumph
Khater proudly reveals that Almouneer witnessed a remarkable doubling of business volumes and revenue figures in the preceding year, setting the stage for an even more triumphant future.
In the ever-evolving landscape of healthcare, Almouneer emerges as a beacon of hope, armed with innovation, vision, and a robust commitment to transforming lives. Stay tuned for the unfolding chapters of this healthcare saga!
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