Kenyan health-tech startup Ilara Health has announced the successful close of a $4.2 million pre-Series A round of equity and debt funding. This new investment will fuel the company’s expansion in primary care clinics across Kenya. The company will use innovative technology and enhance its business model to scale operations.
With this latest round, Ilara Health’s total funding now stands at $11.7 million, including a $3.75 million seed round in 2020 and $1.6 million in grants from the Bill & Melinda Gates Foundation. The funding was led by DOB Equity. Additional investments came from AAIC Investment, Angaza Capital, Black Pearl Investments, Perivoli Innovations, Alphamundi, and Kiva Capital. New participants in this round include strategic healthcare investors. The Philips Foundation and Boehringer Ingelheim join the round. They bring extensive experience in global healthcare.
Hayo Afman, Managing Director at DOB Equity, expressed confidence in Ilara Health’s potential for significant growth. The startup plans to use the new capital to scale its tech-enabled primary care model across Kenya. They also have plans for regional expansion.
Over the next 12 months, Ilara Health will focus on driving top-line growth. It will expand its network of partner clinics. The company will also launch employee health services through B2B health and occupational services.
Ilara Health was founded in 2019 by Emilian Popa, Maximilian Mancini, and Sameer Afzal Farooqi. It addresses the lack of affordable diagnostic tools in peri-urban areas of Kenya.
The company’s innovative solutions are improving the quality of primary healthcare, bridging critical gaps in diagnostics. CEO and co-founder Emilian Popa expressed pride in the team’s accomplishments. He stated, “We passionately believe healthcare should be affordable and accessible to all. I am proud of the measurable impact we have achieved in such a short time.”
Ilara Health will also use this funding to strengthen its branded clinics, drive revenue growth, and move closer to profitability. The company plans to streamline operations and embark on extra fundraising rounds to support its working capital needs.
Ilara Health uses live data from its Practice Management System (PMS). It aims to offer follow-on asset lending and working capital of $10,000 to $15,000 to clinics. This supports rejuvenation efforts, staff training, and diagnostic equipment provision. Ilara Health uses innovative technology to bridge Africa’s estimated $66 billion healthcare financing gap. It modernizes healthcare delivery across the continent.