Ilara Health, a Kenya-based health-tech company, has successfully secured $4.2 million in debt-equity funding in a pre-Series A round. The company aims to utilize the funds to expand its operations in Kenya and enhance healthcare access through the introduction of a B2B health and occupational service.
Ilara Health secures $4.2 million in funding to expand its operations and enhance healthcare access in Kenya through the introduction of a B2B health and occupational service.
Expanding Operations and Services
The $2.5 million equity round was led by DOB Equity, with the participation of the Philips Foundation and existing investors like AAIC Investment, Angaza Capital, Black Pearl Investments, and Perivoli Innovations. Additionally, debt investment came from Alphamundi, Kiva Capital, and Boehringer Ingelheim. This funding round brings Ilara Health’s total secured funding to $11.7 million, encompassing debt, equity, and grant funding.
Enhancing Healthcare Access
Ilara Health initially focused on leasing diagnostic devices to clinics in 2019. However, the company has since evolved to enable health centers to acquire pharmaceutical products and other essential items on credit. This strategic shift has empowered private healthcare operators to establish well-equipped clinics capable of delivering quality primary healthcare to patients.
Addressing Healthcare Challenges in Kenya
Ilara Health is targeting the private healthcare sector in Kenya, which has emerged as a preferred alternative for individuals with medical coverage or those able to pay out of pocket. This is in contrast to government-run facilities that continue to suffer from underinvestment. The company serves approximately 3,000 clinics across Kenya, out of an estimated 15,000 operational clinics in the country.
Future Growth Plans
In its next phase of growth, Ilara Health aims to focus on reaching patients through the B2B health and occupational service. This initiative involves partnering with employers to provide employees with access to various outpatient services at partner clinics. By expanding its reach and services, Ilara Health is committed to improving healthcare standards and access in Kenya.