Lagos-based health startup, MDaaS secures $1.1 million in new funding round

by | Apr 3, 2019

Lagos-based Health technology startup that build and operates diagnostic centres in Nigeria, MDaaS has just raised about $1.1 million in a new funding round according to a US Securities and Exchange Commission filing made on 1st of April.

According to the SEC filing, up to 12 investors participated in the round which commenced as early as March 15th 2019.

According to the document, the total amount filed for was $1.58 million and MDaas has been able to raise $1.05 million already.

The amount raised is about 66.80% of the financing round, with the remaining 23.20% ($524,566) yet to be sold.


MDaaS was founded in 2016 by Genevieve Barnard and Oluwasoga Oni, to provide high-quality and affordable primary healthcare facilities for clinically under-served communities in Africa, starting with Nigeria.

Last year, the startup raised $100, 000 from Nigerian VC firm Ventures Platform to aid its commitment to better healthcare access to Africans. Although the startup is of Nigerian heritage, it was indeed founded and incubated at the Massachusetts Institute of Technology (MIT).

Ever since, it’s been introducing software solutions and investing heavily in an integrated supply chain as well as sharing resources across locations.

In 2017, the startup established a diagnostic centre in Ibadan Oyo state.

Ifeanyi Ndiomewese
Ifeanyi Ndiomewese

Ifeanyi is a desk reporter-turned administrator. Outside of work, I love to read and travel.


On January 22, 2022, be part of the largest gathering of innovators, startup founders, thinkers, programmers, policymakers, and investors in West Africa. Register free.

Notify of
Inline Feedbacks
View all comments

Recent News

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Crypto Explorer

A monthly series featuring in-depth analysis on the cryptocurrency sector in Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap