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Home Industry Cameroonian healthtech startup, Healthlane, secures $2.4m investment to expand offerings

Cameroonian healthtech startup, Healthlane, secures $2.4m investment to expand offerings

Healthlane, the Cameroonian healthtech startup that helps Africans get quality and affordable healthcare services is said to have raised $2.4m.

London-based venture capital fund, Digital Horizon, reported last month that it took part in the round. Other investors mentioned include CRE Africa, Sequoia Capital, Silicon Valley Bank, TSVC, Supernode Ventures, and Capitoria and they raised a total of $2.4 million.

Before launching Healthlane last year, Alain Nteff co-founded mobile health platform, GiftedMom in 2012. The social enterprise used low-cost tech to help pregnant women and mothers in rural areas with life-saving health information and necessary medical care.

GiftedMom was borne out of the need to tackle the widespread problem of maternal and perinatal death in Africa. Since then, the startup has raised $220k according to Crunchbase and has also impacted more than 500,000 moms across different digital platforms in Cameroon, Cote d’Ivoire, Mauritania, and Nigeria.

Continuing in this stride, Alain Nteff and his team pivoted from GiftedMom to Healthlane in March 2019. Asides helping moms with childbirth issues, the company now offers a wide range of medical services to Africans.

From tracking doctors’ appointments to compiling patients’ health data, Healthlane has a pipeline of more than 400 medical institutions across the continent with 250,000+ individuals and organisations using the service.

Earlier this year in March, the company was one of the 12 African startups that participated in Y Combinator’s Winter 2020 batch. There, it received $150k in exchange for 7% equity. With this current raise, the total number of investment Healthlane has secured within the year exceeds $2.5 million.

Healthlane plans to include more features into its already robust offerings like telemedicing, gaining access to test results, medicine delivery, among other things.

Alan Vaksman, founder and managing partner at Digital Horizon had this to say about the raise.

“Unlike many startups that rely only on telemedicine, Healthlane’s solution combines remote and face-to-face health services. Furthermore, the service’s customers become not only users, but also doctors, hospitals, pharmacies and other market participants.

In the future, this all-in-one approach will enable the company to expand the list of services by adding, for example, insurance products.”

However, there are reasons to believe that the raise could be more. For now, Healthlane hasn’t formally announced the nitty-gritty details of the investment but Nteff, in a tweet, said the company will do so in due time.

“Thanks for the support on the recent raise. We’re super busy on executing on some milestones and as soon as we come up for air, we’ll make a formal announcement and give you all the details,” the tweet reads.

SourceTechpoint
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