Egyptian health technology company Sotech has secured $1 million in pre-seed funding in a round led by Innlife Investments and Al Raya Kuwaiti. The startup, which works with more than 200 clinics in the medical field in Cairo, plans to expand its operations in the Middle East and North Africa (Mena) region over the next few years.
Incorporated in 2019, Sotech has built an app that allows clinics to better understand the flow and demographics of their visitors.
“SoTech started in 2019, in the evolution of 5G and IoT. We started a simple idea aiming to transform the “Out of Home” advertising to be traceable through a simple set of software solutions; by offering a venue management system for hospitals and clinics – as it’s the most significant under-served industry for digital transformation to support managing their businesses.” the company said.
This fundraising by a healthcare technology company in Egypt reflects the interest of investors in this industry in the North African country. Although the amounts committed are still small, the sector seems attractive and profitable.
African technology companies overall have attracted increasing interest from investors over the first nine months of the current year.
Chamberline Moko
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Project targets up to 1 million tons of output using solar and wind Initial investment estimated at $5 billion, with expansion potential Plan...
Ghana rolls out Publican AI at Tema Port, with early revenue rising from GH₵2.4bn to GH₵3.6bn after deployment System flags undervaluation and fraud...
Rice is deeply rooted in diets but demand now far outpaces local supply Production has increased across the region, yet value chains remain...
Government launches plans to improve data use and public services Strategy aims to support responsible use of artificial intelligence Move...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....