Denis Opudo
Many people have lost their lives due to lack of better facilities, negligence, and lack of the right skills. Let us not forget about the frequent strikes by the public health workers. This has forced many people to seek treatment either at private hospitals or abroad. Not all people can afford that since it is costly given the financial ability of many people. However, the local startups are coming in to fill the void within the health sector. Lifebank, a Nigerian startup works to improve the functioning of the health sector.
Lifebank majors in the distribution of blood to the Lagos hospitals in Nigeria. The startup has been able to deliver 9,000 pints of blood since the launch. It has also managed to earn revenue worth $100,000 after delivering products worth $360,000. Moreover, it uses World Health Organization’s (WHO) approved equipment. The platform received much of its funding from e-commerce and fintech companies in the last two years.
Lifebank has received a seed funding of $200,000, and it will use it to improve its growth in the next 18 months. Co-Creation Hub, Fola Laoye, and EchoVC Partners were the investors that took part in the round. Since the launch, the startup has received incubation at the Co-Creation Hub. This was done through Growth Capital Fund that targets social innovation startups. The startups have got plans to expand to Kaduma and Abuja. For your knowledge, Kaduma is a state in northern Nigeria while Abuja is the Nigerian capital.
Northern Nigeria has less private hospitals as compared to southern Nigeria. This will offer the startup a vast of experience in working in the public health sector. However, to prosper in southern Nigeria, the startup must work with the government systems. Lifebank startup hopes to use Kaduma as a case study on what they can deliver. Moreover, it aims at delivering other hospital products. This move will make the scarce hospital products to be readily available. It will deliver antivenom, medical oxygen, and vaccine. All this will take place in the same way delivery of blood happens.
