Grace Ashiru
E Squared Investments, an impact investor, has participated in a pre-seed extension funding round led by 4DX Ventures into Zoie Health, a health tech company. Zoie Health aims to address the limited services available to assist working-class young women, pregnant women, and mothers in taking control of their healthcare needs.
Zoie Health operates as a holistic women’s healthcare platform, offering virtual and at-home consultations, medication subscriptions, and a community of women supporting each other through healthcare journeys. The platform focuses on providing quality, affordable healthcare services and has already built an established community of members and specialists.
With the funding secured, Zoie Health plans to expand Africa’s first digital women’s health clinic. This expansion includes increasing its product offerings and venturing into new countries on the continent.
Gladwyn Leeuw, Chief Investment Officer of E Squared, expressed confidence in Zoie Health’s leadership team, emphasizing that a 100% black woman-led team leads the company. Leeuw believes that Zoie Health’s high-impact tech solution aligns with its values and will be a valuable addition to its portfolio.
The funding deal represents E Squared’s commitment to backing digital innovation in women’s healthcare and making quality, affordable healthcare accessible to working-class women. By leveraging the digital component, Zoie Health aims to provide an alternative to traditional healthcare services that are often costly or difficult to access.
Zoie Health currently serves over 5,000 members and has a strong subscriber retention rate of 80%. The company has onboarded 50 health practitioners, with an additional 300 in the pipeline. With a consumer satisfaction score of 9.78 out of 10, Zoie Health demonstrates the potential for scalability and growth.
Thato Schermer, Co-founder and CEO of Zoie Health envisions expanding their services to other African emerging markets, including the SADC region, Kenya, and Nigeria.
Zoie Health’s comprehensive solution encompasses virtual consultations, at-home consultations, medication subscriptions, and various health intervention services tailored to women’s needs. The platform also features a chatbot for general advice, pre-and postnatal care, family care, community support groups, and public wellness resources.
Sipho Pilime, Search and Pipeline Head at E Squared, commended Thato Schermer’s entrepreneurial prowess and expressed confidence in her ability to build an impactful business like Zoie Health. Schermer, a 2015 Allan Gray Orbis Foundation Fellow, has received recognition for her entrepreneurial achievements and is poised to drive Zoie Health’s success.
