In an exciting development for Kenya’s healthcare sector, e-health startup MyDawa has secured a substantial $20 million investment from private equity investor Alta Semper Capital. This infusion of capital will enable MyDawa to expand its reach and enhance its product offerings, with the ambitious goal of becoming an all-in-one health platform catering to diverse user needs.
Established in 2016 as an e-pharmacy, MyDawa has since evolved into a comprehensive healthcare provider. Its array of services now includes both online and in-person consultations, laboratory services available at its expanding network of walk-in pharmacies and health centers, and the launch of its own branded products.
Moreover, MyDawa plans to share its technology infrastructure, spanning telehealth to fulfillment, to empower other businesses within the health sector to scale effectively. The company has already forged partnerships with several prominent clinic chains in Kenya, which are eager to extend their reach through collaboration.
In a strategic move to extend its footprint beyond Kenya, MyDawa has acquired Uganda’s Guardian Health. This is just the first of many acquisitions and collaborations MyDawa aims to pursue as part of its expansion strategy. The new CEO, Priscilla Muhiu, who used to work for Glovo Kenya, is in charge of these growth goals.
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MyDawa Co-Founder Reveals Key Secrets to Success After Recent Funding and Acquisition
Neil O’Leary, co-founder of Company, expressed enthusiasm about the recent funding and the company’s latest acquisition, stating, “Alta Semper’s ambition perfectly aligns with that of MyDawa, and their drive, connections, and influence ensure our mutual success.
Three years ago, AAIC, an African healthcare fund backed by Japan, became our first investor from outside the country. Now, our team has been strengthened in the most optimal way possible.”
O’Leary further emphasized the strong foundation MyDawa has established, adding, “MyDawa possesses a solid and secure base, presenting us with excellent opportunities for expansion. Guardian Health is an excellent first step toward realizing our aspirations.”
Notably, Company had previously received a $3 million investment from AAIC’s Africa Healthcare Fund in 2019. In addition, the company secured a grant of $1.2 million from the Bill & Melinda Gates Foundation to combat the spread of HIV/AIDS by improving access to Pre-Exposure Prophylaxis (PrEP) medication.
For Alta Semper CEO Afsane Jetha, this investment marks the private equity firm’s entry into the digital healthcare landscape in Africa. Recognizing the sector’s immense growth potential in the years to come, Jetha expressed confidence in MyDawa’s ability to deliver transformative solutions. She stated, “Company was the natural choice for us due to their groundbreaking technology, scalable business model, regulatory expertise, and market entry experience, all of which strongly align with our own strategy.
Our overarching mission is to democratize access to health and well-being across the African continent, and Company commitment to expanding access to reliable advice and safe, affordable medication perfectly embodies this goal.”
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With Africa’s consumer spending projected to reach $2.1 trillion by 2025, the investment in MyDawa represents one of the continent’s most significant business opportunities. So, Alta Semper wants to meet the growing demand by spending in locally made market goods and services that are good value for money.
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