Sotech, an Egypt-based Healthech and IoT solutions firm, has raised $1 million in a Pre-Seed round headed by Innlife Investments and Al Raya Kuwaiti, a prominent corporate investor.
“In Sotech we believe we can be one of the weapons that can fight the pandemic and serious diseases through our smart technology, and reinvent one of the most effective marketing channels, the OOH, by having the best analytical solutions detecting behavior and way more insights making it a great cooperative channel with the digital channels,” said Sotech’s Omar El Metwally.
The Egypt-based firm intends to use the freshly raised capital to extend its operations to 500 locations and grow its market beyond Egypt, including Mecca and Madina.
A Look At What The Startup Does
The Egypt-based firm, which was founded in 2020 by a group of Tech, Marketing, and Healthcare enthusiasts during the pandemic, specialized in smart IoT, trackable OOH advertising, and data collection. Sotech is linking the worlds of offline advertising and online campaigns by delivering completely integrated Tech & Hardware, as well as an integrated collection of softwares and tracking platforms. Sotech provides clinics with a seamless app that lets them understand the volume, flow, and demographics of their visits. The data is also linked to an advertiser dashboard that allows advertisers to track the performance of their in-clinic ads.
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With over 200 clinics in Cairo, the startup is rapidly expanding, with around 60 new clinics opening each month. Sotech provides a venue management solution for hospitals and clinics that engages visitors from the moment they walk in and follows them via several display touchpoints during their visit. The fully tech-integrated solution not only assists clinics in managing their business, but it also monitors data that can be connected to a third-party advertiser who can then retarget visitors based on their in-clinic activities, all of which is evaluated using smart technology on-site.
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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