Rinchi
TechInAfrica – A Nigerian Medtech startup, MDaaS Global, has closed its seed funding round with a total of US$1 million from Consonance Investment Managers and participation from Techstars and FINCA Ventures, and other investors.
According to the company, the investment will be used to scale and replicate its innovative diagnostic center business model, opening 100 additional centers in Nigeria and West Africa over the next five years.
Previously, MDaaS Global raised $100k from Ventures Platform. The capital reception was made on April 1st, 2019. It was said that more than 12 investors participated in the funding round.
The Lagos-based Medtech startup was founded three years ago by Oluwasegun Oni, Opeyemi Ologun, Genevieve Barnard Oni, and Joseph McCord. They wanted to provide affordable, modern, and convenient diagnostic facilities for low-income patients.
MDaaS Global provides diagnostic procedures from malaria tests to echocardiograms and pap smears. Its services can be accessed starting at US$4.
“This funding round fuels our next phase of growth, allowing us to continue providing modern, connected healthcare for Africa’s next billion,” said MDaaS Global’s CEO and Co-Founder, Oluwasoga Oni.
Oni added, “With diagnostics as the bedrock of modern medicine and a key to the treatment of diseases like cancer, heart disease, and diabetes – which are on the rise within the continent – unbridled access to quality healthcare is crucial. We are immensely proud of our brick-and-mortar presence; merging physical patient care with state-of-the-art technology enables us to reach more patients with the care that they deserve.”
“Africa significantly trails global metrics in affordable and quality healthcare. MDaaS’ mission to build the physical and technological infrastructure required to provide affordable diagnostic services across Africa fits our investment theme: access to essential services. We are very excited to partner with Soga and his team on this journey,” said Mobolaji Adeoye, Managing Partner at Consonance Investment Managers.
Source: weetracker.com
