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Nigeria’s Helium Health raises $10m in Series-A round [Update]

Nigerian healthtech Helium Health has raised $10-million in a Series-A funding round co-led by UAE-based investor Global Ventures and Singapore and Nairobi headquartered Africa Healthcare Masterfund (AAIC).

The startup made the announcement in a blog post on Friday.

Tencent, Ohara Pharmaceutical Co, HOF Capital, Y Combinator, VentureSouq, Chrysalis Capital, Kairos Angels and Flying Doctors Healthcare Investment Company also participated in the round.

The startup, which was founded in 2016 by Dimeji Sofowora, Tito Ovia and Adegoke Olubusi (pictured above, from left to right), runs an online platform that helps hospitals and clinics to manage their electronic medical records.

The healthtech said using  the new investment it plans to expand its footprint and grow its current customer base in Nigeria, Ghana and Liberia.

Read other articles: MIT Solve rises to meet health security and pandemic challenge

It also plans to use the funding to support expansion into new markets in North Africa, East Africa, and Francophone West Africa this year.

New software products

The startup also announced today that it would be rolling out further software that it said will help hospitals to boost operational efficiency, improve revenue generation, expand health financing, monitor public health and improve health outcomes.

These include a billing and payments solution for healthcare facilities; a product that allows facilities to analyse their operational, clinical and financial performance data; a product that reduces fraud and simplifies the health insurance claims process; an app that helps healthcare facilities manage patient engagement and retention; and a telemedicine platform.

Commenting in the blog post, Olubusi said the impact of the Covid-19 pandemic is a reminder of how “critical responsive and agile health systems are to our collective wellbeing”.

Other related: Nigerian Helium Health raises $7mln from two foreign investors

“Only data and technology can produce the required responsiveness and agility to tackle health challenges of this magnitude. It has never been more imperative for Africa to build a modern and digitised healthcare system,” he said.

Source: https://blog.heliumhealth.com/heliumhealth-seriesa-financing/

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