The rapid evolution of technology in Africa is revolutionising various industries at an unprecedented pace. Sectors like mobility, fintech, medicine, and telemedicine are undergoing transformative changes that, while not immediately apparent, are undoubtedly reshaping lives across the continent.
MYDAWA, Kenya’s comprehensive health platform, recently secured $20 million in funding from private equity investor Alta Semper Capital, propelling its mission to broaden regional reach and enhance its product offerings. Launched in 2016, MYDAWA has evolved beyond its origins as an e-pharmacy to encompass a spectrum of services. It now facilitates online and in-person consultations, provides laboratory services at an expanding network of walk-in pharmacies and health centres, and offers its own branded products.
This infusion of capital not only underscores MYDAWA’s commitment to becoming an all-encompassing health platform but also signals its strategic expansion into the broader African market. The funding will be instrumental in fortifying the company’s technological infrastructure, extending its telehealth capabilities, and fostering collaborations within the health sector.
MYDAWA’s recent acquisition of Uganda’s Guardian Health exemplifies its commitment to growth beyond Kenya’s borders. The platform has also forged partnerships with prominent clinic chains in Kenya, paving the way for an extensive network and increased accessibility.
Priscilla Muhiu, MYDAWA’s new CEO and former Glovo Kenya executive, will spearhead the platform’s ambitious growth plans. Neil O’Leary, Co-founder of MYDAWA, expressed confidence in the alignment of the company’s aspirations with Alta Semper’s vision, citing the latter’s drive, connections, and influence as key assets.
In addition to financial backing, MYDAWA has received acclaim for its contributions to public health. The platform previously secured $3 million from AAIC’s Africa Healthcare Fund in 2019 and garnered $1.2 million in grant funding from the Bill & Melinda Gates Foundation. This support has enabled MYDAWA to combat the spread of HIV/AIDS by increasing access to Pre-Exposure Prophylaxis (PrEP) medication.
Alta Semper’s investment marks its foray into digital healthcare in Africa, recognizing the sector’s immense growth potential. Afsane Jetha, CEO of Alta Semper, emphasized the synergy between MYDAWA’s innovative technology, scalable business model, regulatory expertise, and market entry experience, aligning seamlessly with Alta Semper’s mission to democratize access to health and wellbeing across the African continent.
As consumer spending in Africa is projected to reach $2.1 trillion by 2025, MYDAWA’s strategic investment reflects Alta Semper’s commitment to meeting the growing demand for locally produced and value-priced consumer goods and services. The collaboration between MYDAWA and Alta Semper signifies a significant step toward enhancing healthcare accessibility and fostering well-being throughout the African continent.
Launched on March 28th, 2017, in Nairobi, MYDAWA’s introduction marks a commendable leap in technological transformation. The platform is set for exponential growth with the support of complementary tech solutions such as robust e-commerce technologies, fintech platforms, and transport and logistics. As Africa moves steadfastly in the right direction, collaboration and integration of these tech solutions become paramount for sustained progress. MYDAWA is leading in the telemedicine and pharmaceutical space.
