UAE digital well being startup Altibbi scores $44M

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United Arab Emirates well being tech firm Altibbi introduced a $44 million Sequence B funding spherical led by Basis Holdings, Hikma Ventures, International Ventures and DASH Ventures. 

The AI-backed well being tech firm now boasts of $50 million in funding {dollars}. As a part of the deal, Basis Holdings Senior Advisor Jason Kothari will be a part of Altibbi’s board. 

This information comes lower than per week after the corporate introduced its partnership with Egypt’s Ministry of Well being and Inhabitants to work on a blood plasma undertaking. 

WHAT IT DOES

The corporate works particularly within the Center East area. Its choices embrace telehealth companies and well being sources. Customers can entry well being suggestions, medical guides, medical information, an encyclopedia of medicines and details about ailments and surgical procedures. 

Altibbi’s web site additionally gives customers with a calculator for being pregnant, BMI, energy and vaccines. 

WHAT IT’S FOR 

The corporate plans to make use of the brand new money to broaden its platform into the web pharmacy and diagnostic assortment areas. Sooner or later, the corporate additionally plans to make use of the cash to develop know-how to assist docs with precision diagnostic, referral and prescriptions. The funds will even assist the corporate develop its enterprise in Saudi Arabia and Egypt. 

​​“We’re thrilled to finish this important funding spherical, with the endorsement of main monetary and strategic buyers with sturdy healthcare and know-how experience,” Jalil Allabadi, founder and CEO of Altibbi, mentioned in a press release.

“We’re grateful to our new and present buyers, our companions and the good Altibbi household and staff for permitting us to forge forward with our mission. Altibbi is enjoying a essential position in organizing digital healthcare companies, enhancing high quality and comfort for sufferers, and decreasing prices of insurers and governments, even because it expands entry throughout the area.

“Constructing an end-to-end platform and strengthening our geographic presence have all the time been strategic priorities.”

THE LARGER TREND

Altibbi was based in 2011. In 2017, the corporate raised $6.5 million in a funding spherical led by Center East Enterprise Companions and Sprint Ventures. 

Nevertheless, this is not the one telehealth service within the area. Throughout the COVID-19 pandemic, the Division of Well being-Abu Dhabi launched its Distant Healthcare Platform

Within the non-public sector, fellow UAE startup Well being at Hand scored $3.1 million in seed funding in 2017. Moreover, Okadoc, one other UAE startup, launched its telemedicine product in 2020. 

 



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