Kenya-based healthtech start-up, Ilara Health, has successfully closed a $4.2M pre-Series A funding round, led by DOB Equity and featuring top investors.
The fund boost will fuel Ilara Health’s mission to digitize and consolidate fragmented primary care in Kenya and beyond Africa.
The fund
- Leading the round is DOB Equity, with participation from AAIC INVESTMENT, Angaza Capital, Black Pearl Investments, Perivoli Innovations, Alphamundi, Kiva Capital, Philips Foundation, and Boehringer Ingelheim.
- The $4.2 million pre-Series A funding includes equity and debt financing.
- With this latest funding, Ilara Health’s total investment reaches $11.7M, including a $3.75M seed round in 2020 and grants totalling $1.6M from the Bill & Melinda Gates Foundation.
- The funds will be utilized to scale Ilara Health’s tech-enabled primary care model across Kenya and later extend to other regions.
- The company aims for significant topline growth, expanding its partner clinic network and launching employee health services through B2B health & occupational services.
Margot Cooijmans, Director of Philips Foundation Impact Investments, and Bahaa Eddine Sarroukh, Impact Investment Lead at Philips Foundation, emphasize Ilara Health’s innovative approach to empowering healthcare providers at grassroots levels.
The investment aligns with Philips Foundation’s goal to improve healthcare access through innovation, contributing to bridging the healthcare gap in communities that need it the most.
Emilian Popa, CEO and Co-founder of Ilara Health, underscores the company’s commitment to improving the quality of healthcare for Africans, making it affordable and accessible to all.
Why it matters
- Ilara Health has partnered with over 3,000 clinics, serving more than 5 million patients annually across 42 Kenyan counties.
- Ilara Health plans to launch employee health services, strengthen its branded clinics, and achieve revenue growth as it pursues profitability.
- The company also intends to drive internal efficiencies, conduct a fundraising round, and invest in technology, including proprietary Practice Management Software (PMS).
- Ilara Health aims to use its tech infrastructure to address the estimated $66 billion financing gap and outdated processes affecting healthcare delivery across the African continent.
- Ilara Health’s innovative approach and strategic partnerships position it as a significant player in reshaping primary healthcare delivery, contributing to improved accessibility and affordability in the region.
What you should know
- Founded in 2019, Ilara Health focuses on digitizing and streamlining highly fragmented primary care in Kenya.
- The healthtech company started by addressing diagnostic gaps in peri-urban areas, offering revenue-generating diagnostic assets with flexible repayment plans.
- It has since expanded to digitize end-to-end operations, becoming a one-stop-shop for clinics’ diagnostic tools, consumables, and pharmaceuticals.
- The company has 8 branded clinics with plans to expand to 50 by the end of the year.
