Africa health startup gets investment from Dubai venture firm, Tencent
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[DUBAI] Dubai-based Global Ventures has co-led a US$7 million investment with AAIC Japan in Helium Health, West Africa's largest electronic medical records provider, as investors scour for health-related startups amid the coronavirus outbreak.
The Lagos-based startup also received investment from China's Tencent, Noor Sweid, general partner and founder at Global Ventures told Reuters.
"Only 30 per cent of hospital visits across Africa are recorded so it's a massive need in the market," she said.
This is Global Ventures' first investment in a health technology firm. The Dubai-based firm has 14 different investments in companies including fintech startups.
"Now what we are excited about is health tech. That for the next five years is what fintech was for last five years," Ms Sweid said.
Other investors are also eyeing the healthcare sector.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
The venture capital arm of Abu Dhabi state investor Mubadala plans to launch a healthcare fund next year to tap into increased demand for investment in life sciences and digital health technology following the coronavirus outbreak.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
Near sell-out launches in March boost developer sales to 1,300 units after four slow months
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
