The Kenyan e-health startup, MyDawa, has secured $20 million in funding from private equity investor Alta Semper Capital.
The investment will be used to expand MyDawa’s regional presence and enhance its product offerings, with the goal of becoming a comprehensive health platform for users.
Initially launched as an e-pharmacy in 2016, MyDawa has since diversified its services to include online and in-person consultations, laboratory services, and a growing network of walk-in pharmacies and health centers.
The company has also introduced its own branded products and plans to open its technology infrastructure to other businesses in the health sector, helping them scale their operations.
MyDawa has already formed partnerships with some of Kenya’s major clinic chains, which are looking to expand their reach.
In addition to the funding, MyDawa has acquired Uganda’s Guardian Health, marking the first step in its expansion plans beyond Kenya.
The company aims to pursue further acquisitions and collaborations as it expands its operations in the region.
MyDawa’s growth strategy will be led by its new CEO, Priscilla Muhiu, who previously worked for Glovo Kenya.
Co-founder Neil O’Leary expressed confidence in the investment and the acquisition, stating that Alta Semper’s ambition aligns well with MyDawa’s goals and brings the necessary resources and connections for success.
MyDawa had previously raised $3 million from AAIC’s Africa Healthcare Fund in 2019 and received a $1.2 million grant from the Bill & Melinda Gates Foundation to increase access to HIV/AIDS medication.
Alta Semper CEO Afsane Jetha highlighted the potential for growth in Africa’s digital healthcare sector and emphasized that MyDawa’s technology, business model, regulatory expertise, and market entry experience make it an ideal investment choice.
Jetha sees the investment as part of Alta Semper’s strategy to meet the growing demand for accessible and affordable healthcare in Africa, leveraging the projected increase in consumer spending on the continent, which is expected to reach $2.1 trillion by 2025.
