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Ilara Health, a healthtech startup based in Kenya, has garnered $4.2 million in debt-equity through a pre-Series A round to extend its operations within the country. Leading the $2.5 million equity portion is DOB Equity, with contributions from the Philips Foundation and existing investors such as AAIC INVESTMENT, Angaza Capital, Black Pearl Investments, and Perivoli Innovations. Alphamundi, Kiva Capital, and Boehringer Ingelheim have finalized the $1.7 million debt investment.
The company’s strategy involves implementing a B2B health and occupational service, enabling uninsured workers to access care at its network of partner clinics for a fixed monthly fee, thereby enhancing healthcare accessibility for the public. Ilara Health was founded in 2019 by Emilian Popa (CEO), Maximilian Mancini, and Sameer Afzal Farooq, initially focusing on providing pharmaceutical products and diagnostic equipment to private clinics, consequently boosting healthcare access.
Commencing in 2019, Ilara Health began leasing diagnostic equipment to clinics, evolving to facilitate health centers in procuring pharmaceuticals and other essentials, including hospital furniture, on credit. Popa highlights that this strategic approach has enabled private healthcare providers to maintain well-stocked clinics, delivering top-tier primary care services. Presently, Ilara serves 3,000 of Kenya’s 15,000 clinics, strategically positioned in residential neighborhoods for improved accessibility, albeit at higher costs compared to public facilities.
Given the potential disruptions in public services due to equipment issues, Ilara Health collaborates with various manufacturers, including the American company Butterfly Network, to provide affordable portable ultrasound devices, thereby enhancing scanning service accessibility.
Furthermore, the startup offers clinics a monthly subscription-based practice management software priced at KSh1,000 ($6.25), amounting to a total funding of $11.7 million through debt, equity, and grant sources since its inception.
In 2020, Ilara Health secured a $3.75 million investment to expand its diagnostic footprint across Africa, following a $1.1 million grant received two months prior.
Source: Techpoint