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.
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Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.