Yodawy lands USD 7.5 mn in a series B funding round
Yodawy raises USD 7.5 mn in a Algebra, MEVP, Global Ventures-led series B funding: Pharma platform Yodawy has landed USD 7.5 mn in a series B funding round led by Algebra Ventures, Beirut-based Middle East Venture Partners (MEVP) and UAE-based venture capital fund Global Ventures, according to an emailed statement (pdf). CIB’s VC arm CVentures, P1 Ventures and Saudi-based Athaal Angel Investors Group also participated in the round. The online pharma e-commerce market plans to use the funding to roll out new offerings to its network of pharmacies, patients and health ins. providers “and expand into the other key emerging markets,” according to the statement.
About Yodawy: The Egypt-based company, about three years old now, is a pharma delivery app with a built-in AI ins. approval engine and a digitized prescription tool. With a six-figure number of orders completed, Yodawy also built its own partners and pharmacy portal to facilitate order processing methods. Yodawy successfully raised USD 1 mn in funding so far, and has partnered with over 2k pharmacies across the country. This year, the startup is looking to expand regionally, as well as grow its partnerships with leading ins. Players.