Cameroonian Health Startup Waspito Eyes Expansion with $2.5 Million Funding Boost
Cameroonian health startup, Waspito, has successfully secured a $2.5 million seed extension in funding. Notable contributors to this investment include DP World, facilitated through Newtown Partners, along with Saviu Ventures, AAIC Investment, Axian Ventures, and CFAO’s Health54. The primary objective of this funding is to fuel Waspito’s expansion efforts within the Francophone region.
The startup, founded by Jean Lobe Lobe in early 2020, focuses on creating a health-centric social network. Users on Waspito can access verified doctors through video calls, obtain sample collection services at home, and receive medication deliveries. Waspito, dubbed the “Facebook for healthcare” by Lobe, adopts a unique approach to telemedicine by providing instant video consultations, eliminating the need for pre-registration and appointment bookings. The startup has expanded its operations to Ivory Coast and has plans for further growth in Senegal and Gabon.
Why The Investors Invested
The investors’ decision to inject $2.5 million into Waspito is grounded in the startup’s innovative approach to telemedicine and its mission to make healthcare universally accessible.
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Waspito’s emphasis on instant video consultations, integration with local hospitals, and partnerships with laboratories sets it apart in the health-tech landscape. The critical need for improved healthcare accessibility in target countries, where there are fewer than two doctors per 10,000 people, underscores the significance of Waspito’s mission.
The startup’s impressive track record, reaching 650,000 users, onboarding 950 doctors, and facilitating 60,000 consultations, demonstrates its potential impact. The hybrid model, piloted in Ivory Coast and set to expand, addresses the challenge of offline users in Africa, making healthcare services available even in areas with limited internet access.
A Look At Waspito
Waspito, founded by Jean Lobe Lobe in early 2020, emerged strategically just before the global COVID-19 pandemic, allowing it to fulfill its mission of enhancing healthcare accessibility.
In contrast to traditional telemedicine platforms, Waspito prioritizes instant connections with doctors rather than pre-scheduled appointments.
The platform, often likened to “Facebook for healthcare,” enables users to select available doctors online, and for additional medical services, it collaborates with partner laboratories and local hospitals.
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Waspito has expanded its operations into Ivory Coast and plans further growth in Senegal and Gabon. The startup has gained recognition, winning the title of the best health startup in Africa at the VivaTech awards. Waspito’s innovative approach includes the establishment of mini-clinics in Ivory Coast, within the branch network of La Poste Corporation, catering to offline populations and expanding its reach.
The introduction of a hybrid model aims to address challenges related to internet costs and smartphone accessibility in Africa. The fundraising advisory firm Raisers played a pivotal role in advising Waspito during this successful funding round.
Waspito health Waspito 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
