Almouneer, an Egyptian health-tech firm, is set to transform healthcare for those grappling with diabetes and obesity, thanks to its recent $3.6 million seed funding. This funding round, led by Dubai-based Global Ventures, attracted support from international investors, including Proparco, Digital Africa, Wrightwood Investments, and others.
The capital infusion will primarily bolster the development and expansion of DRU, a patient-centric digital platform aimed at lifestyle and diabetes management in the Middle East and Africa. DRU connects patients with doctors and an extensive network of healthcare providers through an easy-to-use app.
In Egypt, 20% of adults contend with diabetes, while in Saudi Arabia, it’s 30%. Nigeria’s diabetes rate is 1 in 17 adults, and the challenges of prediabetes and obesity are even more widespread.
Almouneer’s co-founder and CEO, Noha Khater, stated that this investment would help attract top talent to join the company, while also exploring product expansion into neighboring markets in Africa and the Middle East, including Saudi Arabia, the UAE, Nigeria, and Kenya in the near future.
Almouneer, based in Giza, currently serves a network of nine hospitals and clinics in Egypt, providing care to over 120,000 patients. Over the past year, the health tech has seen a doubling of its business volumes and revenue.
Transitioning from Ophthalmology to Diabetic Healthcare
Founded in 2017, Almouneer initially focused on technology-driven ophthalmology clinics. However, it later transitioned to serving diabetes and chronic disease patients, providing essential operational support for external healthcare providers.
The company introduced DRU, a patient-centric app that facilitates uploading medical records and teleconsultations with healthcare professionals, bridging the gap between patients and doctors.
Almouneer plans to expand its services further, introducing patient-customized treatment and nutrition plans, personalized to address uncontrolled diabetes and obesity.
The company generates revenue through subscriptions, individualized plans, and fees charged to doctors for referrals. It also plans to add a marketplace for essential consumables and expand its provider ecosystem.
Almouneer’s Growth Plans: Expanding Patient Services and Ecosystem
In the first quarter of 2024, the company will launch the DRU app for doctors, making it a comprehensive solution for diabetes and obesity care in the Middle East and Africa.
Noor Sweid, Founder and Managing Partner of Global Ventures, commended Almouneer’s mission to be a lifelong companion for diabetic patients and its commitment to addressing a widespread health issue in the region.