Almouneer, a prominent Egyptian healthtech company, has recently raised $3.6 million in funding to scale its platform for treating diabetes and obesity. The seed round was led by Dubai-based Global Ventures, with participation from Proparco, Digital Africa, Wrightwood Investments, and other international funds. The funding will primarily be used to support the development and expansion of Almouneer’s patient-centric lifestyle and diabetes management platform, known as DRU. The platform aims to connect patients with doctors and healthcare providers through its app, facilitating better diabetes, obesity, and prediabetes prevention and management.
Key Takeaway
Egyptian healthtech Almouneer secures $3.6 million in funding to scale its platform, DRU, for the prevention and management of diabetes and obesity. The company aims to revolutionize healthcare by connecting patients with doctors and healthcare providers through its app, offering personalized treatment and nutrition plans. Almouneer’s expansion plans include reaching neighboring markets in Africa and the Middle East.
Addressing a Growing Health Concern
Obesity and prediabetes are prevalent health challenges in Africa and the Middle East, affecting over 40% of the population. In Egypt, diabetes is already prevalent among 20% of adults, while the figure in Saudi Arabia stands at 30%. In Nigeria, 1 in 17 adults has diabetes. Almouneer recognizes the preventable nature of these health issues through lifestyle management and monitoring.
Expanding Reach and Talent
The funding comes as Almouneer reports significant growth. Currently, the healthtech company serves over 120,000 patients through a network of nine hospitals and clinics in Egypt. The aim is to attract top talent to join the company and explore opportunities for product expansion in neighboring markets within Africa and the Middle East, including Saudi Arabia, the UAE, Nigeria, and Kenya.
A Lifeline for Diabetic Patients
Almouneer’s journey began in 2017 when Co-founder and CEO Noha Khater, an ophthalmologist, launched tech-enabled clinics with a focus on ophthalmology. However, her firsthand experience with diabetic patients motivated her to address the fragmented healthcare services for chronic patients in Egypt. The launch of the DRU app marked a significant shift for Almouneer, allowing patients to upload their medical records, access vital metrics, and engage in teleconsultations with healthcare professionals. The app aims to provide continued care and support for patients, even after they leave Egypt for treatment.
Expanding Service Offerings
With the recent funding, Almouneer has plans to expand its service offerings. In the coming months, the healthtech company intends to launch patient-customized treatment and nutrition plans, focusing on uncontrolled diabetes and obesity. These plans will cater to blood pressure and blood sugar improvement. Almouneer generates revenue through subscriptions and customized plans, as well as fees for doctor referrals. Additionally, the company is set to add a marketplace feature, connecting patients to essential consumables and nutrition plans.
