CarePoint, a technology-driven healthcare startup, has raised $10 million in a bridge round to accelerate its growth across Africa.
Egypt is the fourth market in Africa for the startup. Mergers and acquisitions are driving its growth and it is now eyeing North and East Africa.
The startup is in the process of setting up telemedicine centers in their facilities and building micro-tech-enabled-clinics for the mass market, according to the founder and CEO. CarePoint will grow beyond in-person visits.
The micro-clinics will have 12 employees, including a nurse. The patients will be able to talk to their doctors. Delle said that they are taking this route because they realized that many people are still locked out of the internet because they cannot afford mobile data.
The clinics are a way of democratizing access, and taking quality healthcare closer to the people, while making it affordable to them too.
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Patients can access care virtually through CarePoint's MyCareMobile app, which links them to diverse services through teleconferencing, including consultations with their doctors, test results and 24-hour emergency response.
The startup is backed by five brands, including Sahe in Egypt, and is operating a total of 65 facilities.
Delle founded CarePoint after a long career as an investor and CEO at Golden Palm Investments, a venture firm with an interest in early-stage opportunities in Africa.
We built a very active venture capital practice at Golden Palm and invested in many of the leading tech startups today. Delle, a World Economic Forum Young Global Leader and a Harvard and Oxford graduate, said that everything about CarePoint started at Golden Palm.
We started looking at healthcare because we realized that we have to solve health care challenges as well. Africa has about 16% of the global population, 26% of the global disease burden, but only 3% of global health care workers and 1% of global healthcare resources. He said that we need to bridge the gap or we will be in real trouble.
Given that the population is expected to almost double in the next three decades, Delle appealed for urgent action and investment in the healthcare sector.
From our thesis and pilot, we believe we can use technology to improve the quality of care.
CarePoint will use part of the funding to build data science and artificial intelligence teams to strengthen its technological resources, according to Delle.
The funding round was led by TRB Advisors and brings the total raised by CarePoint to $30 million. The $18 million series A round was announced in November last year.
New and existing investors that took part in the bridge round include Delle, and Alan Waxman, who is the CEO of Sixth Street Partners.
CarePoint is at the forefront of creating solutions through its three core pillars of a scaled network of healthcare facilities, a strong technology backbone, and patient-centered care highlighted by the first Africa-focused healthcare.
Viebeg, a heathtech company streamlining the medical supply chain in Eastern and Central Africa was invested by the BVC.
CarePoint is capturing demographic shifts to transform, and Beyond Capital is excited to work with Dr. Sangu Delle to scale an emerging technology-driven healthcare system in Africa.
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