Digital healthcare continues to thrive globally following the results of the pandemic final 12 months, however enterprise capital inflows differ regionally with Africa lagging behind the remainder of the world.
However, buyers have paid consideration to some revolutionary well being tech startups, placing over $77 million throughout 56 offers final 12 months. Egypt is without doubt one of the continent’s vibrant spots and an integral contributor to well being tech market worth in MENA, which is anticipated to reach up to $2 billion by 2024.
As corporations reminiscent of Vezeeta, Chefaa and Yodawy thrive whereas providing telemedicine, diagnostics and pharmaceutical merchandise, newer corporations want 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 trade. At this time, the corporate is saying that it has raised $1 million in pre-seed funding from buyers reminiscent of Magic Fund, Acuity Ventures, Launch Africa, Plug and Play, and different regional and international VCs.
The corporate was based by chief government Andrew Saad in 2019. Throughout his days as a medical pupil, Saad met an older girl who was ailing and wanted remedy. Usually, hospitals would administer medicine after working 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 provide her drugs or not.
Saad advised TechCrunch that he encountered related conditions with different sufferers as nicely. He went on to do some educational analysis regarding sufferers’ knowledge and digital well being data, which shaped 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 12 months. Bypa-ss’ flagship product is named HealthTag and it companies an ecosystem of hospitals, physicians and sufferers.
For hospitals and physicians, HealthTag supplies an built-in system for clinic administration to trace sufferers’ instances saved by Bypa-ss after collating medical data from totally different healthcare suppliers.
For customers, HealthTag works as a cellular software and bodily card. With the app and card, sufferers have possession of their well being data 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 data whereas giving docs and healthcare suppliers visibility on the affected person’s full historical past, permitting people-centric digital well being info trade as first of its type in Egypt and North Africa,” the corporate mentioned in a press release.
The pre-seed spherical equips Bypa-ss with an arsenal to increase its community of greater than 3,000 healthcare suppliers. And likewise its buyer base, which Saad says has elevated by 150% because the begin of the 12 months. Additionally, whereas Bypa-ss began 2021 with six staff, 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 whole funding to $1.15 million. “We’re past excited to spend money on 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 development in Egypt, the CEO says. “With this funding coming in, we can avail extra options to our prospects whereas sustaining our service stage and development momentum. Moreover, the corporate intends to make use of the funds to gasoline enlargement, excellent a high-end tech cellular app for sufferers to engulf and facilitate the knowledge trade between the stakeholders from totally different ranges and sizes and capitalize on the corporate’s speedy development.”
