VIEBEG Technologies, a Rwandan health-tech startup intending to disrupt Africa’s medical supply chain and impact millions of lives across the continent, has received a total of $1 million in funding from the Rwanda Innovation Fund (RIF), managed by Angaza Capital.
“We are thrilled to invest in VIEBEG, a company that is already changing healthcare across the continent,” says Angaza Capital Chair. “With a mission to enable proper care for millions, VIEBEG’s team is utilizing advanced technologies and extensive knowledge to establish a sustainable revolution in a sector that is in a dire need of viable solutions,” Angela Homsi, Angaza Capital Chair said.
With the money, the company will be able to achieve the enormous promise of technology and data science in making medical supplies more inexpensive and accessible to hundreds of millions of people. The company’s data-driven procurement platform ensures that medical institutions always have the necessary type and quantity of medical items in stock to treat patients effectively.
“With its solid institutions, creative innovators, and sustainable development focus, Kigali’s entrepreneurial landscape is growing. There is untapped potential to solve problems shared by hundreds of millions, and Rwanda has an unprecedented opportunity to establish its status as an innovation and sustainable entrepreneurship African leader. Angaza Capital is proud to support innovative teams and companies such as VIEBEG and continues to invest great efforts in supporting the evolving ecosystem, and pave the way to a more inclusive, and sustainable future for all,” Homsi said.
A Look At What VIEBEG Technologies Does
VIEBEG is a health tech firm that provides high-quality medical supplies and equipment through an innovative procurement platform. It was founded in 2018 by Tobias Reiter (Chief Executive Officer) and Alex Musyoka (Chief Commercial Officer). In hard-to-serve markets, the company uses artificial intelligence to de-risk and optimize every component of the supply chain, allowing healthcare providers to acquire autonomously, transparently, and efficiently using the platform.
Read also Egyptian Health-tech Startup, Bypa-ss, Raises $1m In Pre-Seed Round
The company saves up to 40% on average by working with over 40 multinational manufacturers and suppliers and being directly connected to hospitals, clinics, and pharmacies through the procurement platform. VIEBEG’s innovative business strategy, which includes on-demand supply and flexible financing of medical items and equipment, has already helped over 400 healthcare facilities in Rwanda, Burundi, Eastern DRC, and Kenya.
VIEBEG delivers an average cost savings of up to 40% by working with over 40 multinational manufacturers and suppliers and being directly connected to hospitals, clinics, and pharmacies via the procurement platform. With an innovative business model that incorporates on-demand supply and flexible financing of medical items and equipment, VIEBEG has already provided more than 400 healthcare facilities in Rwanda, Burundi, Eastern DRC, and Kenya.
Read also Nigerian Cross-border Payments Startup, Lemonade, Raises $725k Pre-seed
The company, which is based in Kigali, employs 24 employees, including 18 Rwandans. RIF’s support of great entrepreneurs and innovators who use technology to disrupt access to crucial solutions and assist sustainable economic development in Rwanda and beyond is shown by this investment.
Rwandan VIEBEG Technologies health Rwandan VIEBEG Technologies health
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 write