Yodawy, an Egyptian healthtech startup that provides an online pharmaceutical platform for patients and pharmacies, has raised $16 million in a Series B round. Global Ventures and Delivery Hero Ventures co-led the round, while AAIC Investment, Dallah Al-Baraka, Middle East Venture Partners (MEVP), C Ventures, and P1 Ventures also participated.
Yodawy was founded in 2018 by Karim Khashaba, Sherief El-Feky, and Yasser AbdelGawad to provide a platform for healthcare providers and other stakeholders to facilitate prescribing and ordering medication. The startup also helps insurance companies to automate as much as 80% of their back-office decisions.
Since its inception, the startup claims it has processed more than 4 million prescriptions across 38 cities in partnership with more than 3,000 pharmacies. Additionally, it processes more than 200,0000 prescriptions monthly. Its e-prescription service allows healthcare providers to ditch paper use and is currently responsible for more than 2,000 prescriptions daily.
Yodawy plans to use this additional capital to finance its expansion across the Middle East and Africa. It will also power its Care Program, which provides recurrent refills to enrolled patients.
Noor Sweid, Managing Partner at Global Ventures, said, “We continue to be fascinated by the ways they’ve used technology to elevate the healthcare experience for insured and non-insured patients. This is translated in their ability to serve more than 50,000 recurring chronic patients every month and save them more than 100,000 monthly hours of queuing to receive essential medication.”