Almouneer Raises $3.6M in Seed Round Fund
The Egyptian healthtech will use funds to scale its platform for treating diabetes and obesity.
Almouneer, an Egyptian healthtech startup, has raised $3.6 million in funding to develop its platform, app and attract top talent.
Global Ventures led the seed round, with participation from Wrightwood Investments, Proparco and Digital Africa through the Bridge Fund and other international funds.
Almouneer, founded by Noha Khater (CEO) and Rania Kadry (CTO), aims to support and transform healthcare for people with chronic diseases, including obesity and diabetes.
Obesity and prediabetes are major health concerns in Africa and the Middle East, affecting over 40% of the population. In Egypt, 20% of adults have diabetes; the figure in Saudi Arabia is 30%. The issue of prediabetes and obesity is even more widespread.
In a company statement, Almouneer has disclosed that the funds raised will be primarily allocated to support the development and expansion of DRU, which it characterizes as the “first patient-centric, digitally-enabled lifestyle and diabetes management platform in the Middle East and Africa.”
The platform plays a critical role in diabetes, prediabetes, and obesity prevention and management by connecting patients with doctors and an extensive network of healthcare providers through its app.
The Company addresses chronic diseases by fostering trust and loyalty among patients in the region. Currently serving over 120,000 patients, Almouneer has experienced strong growth, with business volume doubling in the past year.
The company aims to digitize over 500 healthcare providers in Egypt over the next two years, serving millions of patients and connecting thousands of doctors across the region through DRU’s doctors’ application, set to launch in Q1 2024.
Almouneer also plans to expand in the region with priority market entries to Saudi Arabia, the U.A.E. by next year.
