Egypt-based healthtech platform, Chefaa, has announced its securing of an unstated amount in a venture round. The round was led by Newtown Partners and Global Brain as well as GMS Capital Partners.
Chefaa had previously secured $1.5 million in its seed financing in 2020, the last amount of funding it disclosed.
According to Crunchbase, Chefaa has raised a total of $1.8M in funding over 5 rounds.
The company was founded in 2017 by Doaa Aref and Dr. Rasha Rady with a mission to digitize solutions to chronic ailments. Chefaa (an Arabic term for healing or cure) acts as a link between patients and pharmacies through its mobile web and applications. When patients order for medicines and other pharmaceuticals, Chefaa connects them with partnering licensed pharmacies in the closest GPS and handles the cold chain logistics to patients’.
Moreso, Chefaa is enabling patients to order, schedule and refill their prescriptions as well as purchase non-prescriptions and non-pharmaceuticals from the pharmacy
Commenting on the venture round, Mr Yasuhiko Yurimoto, founder, CEO and General Partner at Global Brain says:
“There is usually a challenge to meet patient needs particularly when it comes to medicine.
We believe that Chefaa’s approach of growth, which is an opportunity to enhance medical literacy through freemium service and employee benefits, is the right way and contributes to one of the severe national health problems; a shortage of providing optimum care for chronic patients.”
Chefaa labels itself as ‘a patient-centric, AI-powered & GPS-enabled platform, designing services to improve patients’ compliance and adherence.’
The undisclosed round will help the startup build a stronger base to support the release of its Chefaa Prime product, a complete medical insurance alternative designed for emerging markets and launch officially in new markets.
This round will further fund Chefaa efforts to digitise chronic illness management through a comprehensive approach to achieve measurable improvement in chronic patients’ quality of life.
Doaa Aref, CEO and Founder of Chefaa says:
“From the start, we focused on empowering Chefaa’s ability to measure the impact of every step it takes with real data, not just for funding but for execution and scaling as well.
“I believe this venture round is pivotal not because it will only help us scale our validated business models, but because it will also help us capitalize on untapped market opportunities.
“We are confident Chefaa will dominate over a much larger market share in the next two years.”
