Almouneer, Revolutionising MEA Healthcare, Raises Funds
The proceeds will primarily support development and expansion of DRU - MEA's first patient-centric, digitally-enabled lifestyle and diabetes management platform.
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Almouneer, the digital transformation platform revolutionising healthcare for patients and doctors across Middle East and Africa (MEA), announces its seed round fundraise of $3.6 million.
The seed round was led by Dubai-based Global Ventures, with participation from other renowned international investors: Proparco and Digital Africa, through the Bridge Fund, Wrightwood Investments – the family office of Diane & Henry Engelhardt (UK) – and other leading international funds.
The fundraise follows rapid growth for Almouneer as it serves over 120,000 patients, with business volumes having doubled in the last year, and its leadership team boosted with several key hires.
The proceeds will primarily support development and expansion of DRU – MEA’s first patient-centric, digitally-enabled lifestyle and diabetes management platform. DRU aids prevention and management of diabetes, pre-diabetes, and obesity – and will serve millions in Egypt and MEA. The scalable platform uses cutting-edge patient and doctor-facing applications, and an extensive provider network.
Proceeds will enhance DRU’s state-of-the-art technology further, and grow its wider provider ecosystem (doctors / health coaches / labs / nutritionists). Almouneer will also build MEA’s first online, patient-customized treatment plans. DRU currently connects to Continuous Glucose Monitors and other glucometers and will soon enable connection to wearables such as smart watches.
2024 is set to be a year of important milestones. In Q1, Almouneer will launch its DRU app for doctors – connecting healthcare providers with millions of patients. The Company’s strategy is to expand regionally and internationally – with market entries to Saudi Arabia, the U.A.E., and African countries including Nigeria and Kenya – anticipated by next year.
The MEA region has very high levels of obesity and prediabetes – affecting over 40% of its population – making Almouneer and DRU’s mission to empower patients and healthcare professionals more critical than ever. Egypt has 15 million diabetics alone (20% of adults) with KSA having 7 million (30% of adults). Adding those suffering from pre-diabetes and obesity makes the problem even more endemic yet is largely preventable by lifestyle management and monitoring.
Noha Khater, co-founder and CEO of Almouneer, said:
“We are very excited to be announcing this round— an important achievement and milestone in our journey. Over the past year, we managed to grow our team and successfully built DRU. This round will now catapult us into the next phase of our business, helping us grow our team and talent further, invest in our technology and broaden DRU’s provider network- inching us even closer to our vision. And as we do, we’d like to extend our deepest gratitude to our investors – Noor Sweid and Said Murad from Global Ventures, Henry Engelhardt of Wrightwood Investments, and Proparco – for their belief in us and in our mission. We also wouldn’t be here today had it not been for the unwavering support and championing of Cartier Women’s Initiative, INSEAD, Endeavor and from our friends at Alliance Law Firm.”
