In a region plagued by high rates of obesity and prediabetes, Almouneer, an Egyptian health tech company, has emerged as a vital player in the quest for healthier lives. The company recently secured a substantial investment of $3.6 million, a sum contributed by a diverse group of investors. The lead investor in this seed round is Dubai-based Global Ventures, a prominent venture capital firm. They were joined by international investors such as Proparco, Digital Africa via the Bridge Fund, and Wrightwood Investments, the family office of Diane & Henry Engelhardt from the U.K., alongside other notable international funds.
The primary intent behind this substantial investment is to further develop and expand DRU, a patient-centric, digitally-enabled lifestyle and diabetes management platform. Almouneer positions DRU as a pioneering solution in the Middle East and Africa, which plays a critical role in the prevention and management of diabetes, prediabetes, and obesity. DRU facilitates a connection between patients and healthcare providers through a user-friendly app, thus offering a comprehensive approach to healthcare management. The funds raised will be pivotal in supporting the platform’s growth and extending its reach to more individuals in need.
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Furthermore, Almouneer plans to use the investment to attract top talent and explore potential expansion into neighboring markets, with a particular focus on countries like Saudi Arabia, the UAE, Nigeria, and Kenya. This investment comes on the heels of significant growth for the company, as it currently serves over 120,000 patients across a network of nine hospitals and clinics in Egypt. Over the past year, Almouneer has reported a doubling of both business volumes and revenue, showcasing its impact in the healthcare sector.
Why The Investors Invested
The decision of these investors to back Almouneer with a substantial $3.6 million investment is rooted in several compelling factors. Foremost, the dire health statistics in the Middle East and Africa cannot be overlooked. With more than 40% of the population grappling with obesity and prediabetes, and alarming diabetes rates in countries like Egypt (20%), Saudi Arabia (30%), and Nigeria (1 in 17 adults), there is a pressing need for innovative solutions to address these challenges. Almouneer’s focus on lifestyle management and monitoring presents a critical avenue to combat these preventable health issues.
Furthermore, the growth and success of Almouneer cannot be ignored. The company’s remarkable progress, including its expansion to serve over 120,000 patients and a doubling of business volumes and revenue within a year, demonstrates its potential to effect substantial change in the healthcare sector. The platform’s innovative approach, embodied by the DRU app, connects patients with doctors and a wide network of healthcare providers, addressing the fragmented nature of healthcare for chronic patients in the region.
Investors see in Almouneer a unique and necessary innovation, a company that seeks to tackle a widespread health issue across the Middle East and Africa. By providing patients with a holistic solution for diabetes, prediabetes, and obesity management, Almouneer aims to become a lifelong companion for diabetic patients in the region. This vision aligns with the mission of these investors to improve access, quality, and cost of healthcare, making Almouneer a worthy recipient of their investment.
A Look at Almouneer
Almouneer, the Egyptian health tech company at the forefront of the battle against obesity and diabetes, was founded in 2017 by Noha Khater, a visionary ophthalmologist, and Rania Kadry, who serves as the CTO, bringing her expertise in economics and social science computing to the startup. The company’s journey began with a strong emphasis on ophthalmology, inspired by Khater’s firsthand experiences as a practicing physician, having witnessed the quality of healthcare services during her training in the U.S. She was deeply impressed by the meticulous documentation and effective communication that patients experienced in the U.S. healthcare system. This experience motivated her to establish Almouneer, with the vision of bringing similar benefits to the Egyptian population.
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Almouneer started as a cluster of tech-enabled ophthalmology clinics but soon expanded to provide support for diabetes and chronic disease patients. This expansion led to the development of the DRU app, a patient-centric solution that allows individuals to upload medical records, access vital metrics, and engage in teleconsultations with healthcare professionals, bridging the gap for patients seeking treatment in Egypt and returning to their home countries. Almouneer plans to further enhance its services by launching patient-customized treatment and nutrition plans in the near future.
The company’s current primary markets include Egypt, where it operates through a network of nine hospitals and clinics. However, Almouneer has ambitious plans for expansion into neighboring markets across Africa and the Middle East, with a keen focus on Saudi Arabia, the UAE, Nigeria, and Kenya. This expansion will be facilitated by the recently secured $3.6 million in funding, which will not only drive the adoption of the DRU app but also expand the provider ecosystem to include doctors, health coaches, labs, and nutritionists. Almouneer’s innovative approach and commitment to improving the lives of patients make it a significant player in the healthcare landscape of the Middle East and Africa.
Almouneer health
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard