Finance

Kenya: Ilara Health raises $3.7mln Series A funding

Wednesday, 16 December 2020 17:50
Kenya: Ilara Health raises $3.7mln Series A funding

(Ecofin Agency) - Kenyan startup Ilara Health, which markets diagnostic equipment to clinics and hospitals in Africa, raised $3.75 million in a deal led by venture capitalist TLcom Capital.

The round also saw the participation of Dutch-based Dob Equity, Global Ventures, a venture capital firm focused on companies in emerging markets, and Chandaria Capital. The latter was already a shareholder of Ilara Health.

Ilara Health, which collaborates with more than 200 healthcare institutions in Kenya, plans to expand in this country and strengthen its technological capabilities. The start-up also plans to conquer another East African country by 2021.

“This funding round allows us to significantly grow our on-the-ground presence and invest resources into our technology capabilities,” said Emilian Popa, MD of Ilara Health.

“In just one year of operation, we have seen the incredible impact our Ilara Health platform has had in delivering improved services,” he said.

Supported by Shaka Ventures, and Villgro Kenya, the startup founded in 2019 and which aims to make its devices accessible to nearly 500 million people in Africa recently received financial support from major organizations such as the Bill & Melinda Gates Foundation.

Chamberline Moko



 
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