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Digital healthcare continues to thrive globally following the consequences of the pandemic final yr, however enterprise capital inflows differ regionally with Africa lagging behind the remainder of the world.
Nevertheless, traders have paid consideration to some modern well being tech startups, placing over $77 million throughout 56 offers final yr. Egypt is likely one of the continent’s shiny spots and an integral contributor to well being tech market worth in MENA, which is predicted to achieve as much as $2 billion by 2024.
As firms corresponding to Vezeeta, Chefaa and Yodawy thrive whereas providing telemedicine, diagnostics and pharmaceutical merchandise, newer firms wish to make names for themselves in completely totally different segments.
Considered one of such is Bypa-ss, a healthtech firm coping with well being info alternate. In the present day, the corporate is asserting that it has raised $1 million in pre-seed funding from traders corresponding to Magic Fund, Acuity Ventures, Launch Africa, Plug and Play, and different regional and overseas VCs.
The corporate was based by chief government Andrew Saad in 2019. Throughout his days as a medical scholar, Saad met an older girl who was ailing and wanted therapy. Sometimes, hospitals would administer medication after operating some assessments and referencing the affected person’s medical historical past. This time, neither the hospital nor the lady had her medical historical past at that time. Due to that, they had been conflicted on whether or not to offer her drugs or not.
Saad instructed TechCrunch that he encountered related conditions with different sufferers as properly. He went on to do some tutorial analysis regarding sufferers’ information and digital well being information, which fashioned the muse for beginning Bypa-ss.
Andrew Saad (CEO Bypa-ss)
The corporate began in Shebin El Kom, Menofia, earlier than scaling to 5 different cities throughout Egypt final yr. Bypa-ss’ flagship product is named HealthTag and it companies an ecosystem of hospitals, physicians and sufferers.
For hospitals and physicians, HealthTag gives an built-in system for clinic administration to trace sufferers’ circumstances saved by Bypa-ss after collating medical information from totally different healthcare suppliers.
For customers, HealthTag works as a cellular utility and bodily card. With the app and card, sufferers have possession of their well being information in a single place and pay for his or her medical companies on-line. They’ll obtain prescriptions, labs scans and entry a 70% low cost from healthcare suppliers in Egypt when paying out of pocket.
“We’re aggregating and giving sufferers possession of their well being information whereas giving docs and healthcare suppliers visibility on the affected person’s full historical past, permitting people-centric digital well being info alternate as first of its sort in Egypt and North Africa,” the corporate mentioned in a press release.
The pre-seed spherical equips Bypa-ss with an arsenal to develop its community of greater than 3,000 healthcare suppliers. And likewise its buyer base, which Saad says has elevated by 150% for the reason that begin of the yr. Additionally, whereas Bypa-ss began 2021 with six workers, the corporate has grown fivefold.
Earlier than this pre-seed spherical of $1 million, Bypa-ss raised $150,000 in an angel spherical, bringing the corporate’s complete funding to $1.15 million. “We’re past excited to put money into Bypa-ss! We’re assured that Andrew and his staff will construct the way forward for well being info infrastructure in Egypt, and we’re glad to be a part of it,” Plug and Play mentioned in a press release.
Bypa-ss will use the funding to speed up its progress in Egypt, the CEO says. “With this funding coming in, we will avail extra options to our prospects whereas sustaining our service stage and progress momentum. Moreover, the corporate intends to make use of the funds to gasoline growth, good a high-end tech cellular app for sufferers to engulf and facilitate the data alternate between the stakeholders from totally different ranges and sizes and capitalize on the corporate’s speedy progress.”
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