Quro Medical, a Sandton, South Africa-based eHealth startup has landed $1.1 million after almost three years of operating secretly from by Kenya-based Enza Capital and South African VC firm Mohau Equity Partners. With the funding, the startup wants to attract and retain talent and extend into other African markets.
Why The Investors Invested
“As our collective healthcare systems struggle to care for patients beyond the walls of a hospital, which we’ve seen exacerbated with the onset of the COVID-19 pandemic, remote patient monitoring and healthcare delivery will undoubtedly form a core part of the lasting solution,” said Mike Mompi, partner and CEO of Enza Capital.
CEO Dr Penny Moumakwa of Mohau Equity Partners commenting on the investment said:
“We are very excited to be invested in Quro, they are a dynamic management team, building out a global medical solution, that will showcase the ability of entrepreneurs on the African continent in advanced digital healthcare.”
A Look At What Quro Medical Does
Founded in 2018, by Dr Vuyane Mhlomi, Zikho Pali and Rob Cornish in 2018 Quro Medical provides services to manage ill patients in the comfort of their homes.
Quro Medical now employs about 150 physicians. Mhlomi claims his business is a first mover in Africa, which means he anticipates the arrival of other players in line with industry trends. To meet the demands of its rising client base, the company, which now employs 150 physicians, aims to expand its hospital-at-home services and scale its operations across the world.
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Most of the company’s big medical schemes (health insurance) in South Africa have been converted to customers, according to the company. They account for more than 90% of the country’s overall medical scheme market.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer