30Med, an Egypt-based healthtech, raises pre-seed funding to expand operations

March 13, 2024
2 min read
  • Egypt-based healthtech startup 30Med has raised undisclosed pre-seed funding from anonymous angel investors. 
  • According to a report, this development will provide the company with the necessary resources to enhance its platform and extend its presence within the medical community.
  • It added that the “pre-seed fund represents a vote of confidence in 30Med's vision and potential.”

Ayman Ragab founded 30Med in 2023 as a B2B startup to bridge the gap between pharmaceutical companies and physicians through interactive videos and conference events that showcase new medicines and encourage continuous learning.

According to the healthtech website, it has a 2,000 customer base, comprising doctors who engage with the latest advancements in medicine and pharmaceuticals. 

Ragab stated that this development validates the platform's mission and allows it to accelerate its efforts to transform medical education.

The statement acknowledged that 30Med's partnerships with pharmaceutical companies in Egypt demonstrate the company's commitment to reshaping the medical education landscape. 

Egypt has been recognised as the top country in North Africa for startup acquisitions over the years; in the first ten months of 2023, Egyptian startups raised about $340 million in funding.

According to reports, the number of startups in Egypt surpassed 177 and was operating in over 14 sub-sectors as of January 2024, having grown by more than five times in just five years.

Amid this, Egypt accounts for over 85 health tech startups, many of which have also raised funding. In January 2024, Egyptian healthtech startup Yodawy raised $10 million to scale. Also, in October 2023, Almouneer, an Egyptian healthtech startup, secured $3.6m to transform healthcare for people with obesity and diabetes.

Meanwhile, a report from healthtech advisory firm Salient Advisory revealed that only 47% of African startups raised equity funding, despite accounting for 91% of healthtech funding in 2023, with only 7% of the funding value, 52% of the startups receiving grants, and debt funding accounting for 1% of deals and 2% of deal value.

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