Kenyan healthtech startup Ilara Health has banked US$3.75 million in Series A funding led by TLcom Capital, with participation from DOB Equity, Global Ventures and Chandaria Capital.
Ilara Health provides low-cost artificial intelligence (AI) powered diagnostic devices to healthcare facilities in peri-urban and rural clinics. Its tech-powered diagnostic equipment at affordable prices to healthcare facilities who then pay for them over some time.
The startup proprietary electronic medical record (EMR) systems record patient data and help doctors to provide effective patient management and also sends customized health tips and reminders to patients based on their condition.
Ilara will use the funding to expand its diagnostic reach across the continent. It will also accelerate the development of its integrated patient health management platform.
Emilian Popa, CEO and co-founder of Ilara Health said, “This funding round allows us to significantly grow our on-the-ground presence and invest resources into our technology capabilities. In just one year of operation, we have seen the incredible impact our Ilara Health platform has had in delivering improved services across maternal, metabolic, cardiovascular and infectious disease care.”
Ido Sum, Partner at TLcom said “We have been following the underserved health space in Africa for quite some time. While this is one of the areas on which African consumers spend the most, the quality of health outcomes needs to improve. The challenge of bringing affordable and high-quality diagnostics to the actual points of care is yet to be solved. We are excited about what Ilara Health was able to build in such a short time, and more so about their wider vision of combining world-class technologies, financing and their own tech layer to bring true value to medical professionals and patients at the clinics visited by the majority of the population.”
Last year, Ilara Health raised US$735 000 in seed funding from a group of angel investors and venture capital (VC) firms including ShakaVC.
The startup also received US$25,000 grant funding Tamer Fund for Social Ventures, a Columbia Business School program. It has also recently announced the receipt of a US$1.1 million grant from the Bill & Melinda Gates Foundation.