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Sunday, 12 February 2023

Pharma delivery startup Yodawy lands USD 16 mn in series B funding

Yodawy closes USD 16 mn series B round: Pharma delivery app Yodawy raised USD 16 mn in a series B round led by Dubai-based Global Ventures and Delivery Hero’s VC arm, it said in a press release (pdf) Thursday. The round also saw participation from two first-time investors, Japanese healthcare-focused fund AAIC Investment and Saudi investment group Dallah Albaraka, as well as existing investors Middle East Venture Partners (MEVP), C-Ventures (CIB’s VC arm), and P1 Ventures.

About Yodawy: Founded in 2018 by Karim Khashaba (LinkedIn), Yasser AbdelGawad (LinkedIn) and Sherief El Feky (LinkedIn), Yodawy pharma delivery platforms offers a built-in AI ins. approval engine. The company closed a USD 7.5 mn round in mid-2021. Since then, it has increased its revenues by 400% and launched new features.

Expansion in the pipeline: The startup will use the funding to fuel its regional expansion plans, expand its daily meds delivery program for chronic patients, and continue to automate its operations, the company said.

Read more: We interviewed Khashaba for our weekly My Morning Routine back in 2020.

Could things be picking up in StartupLand? Inflows appear to be picking up to local startups after a quiet January, when not a single startup announced securing new funding. February has so far brought us news of a USD 200 mn investment by Chimera Investments in MNT-Halan, bringing the super app’s value to USD 1 bn, as well as a USD 3.5 mn seed round by customer loyalty platform Gameball.

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