Egyptian Health-Tech Startup Almouneer Secures $3.6M in Funding to Expand Platform Addressing Obesity And Diabetes Treatment

Almouneer, an Egyptian health-tech platform that offers practice management and networking solutions serving both patients and doctors, has announced the raise of $3.6 Million in funding to expand its platform, addressing obesity and diabetes treatment.

The seed funding was led by Dubai-based Global Ventures, with participation from other international investors which include, Proparco, Digital Africa via the Bridge Fund, Wrightwood Investments (the family office of Diane & Henry Engelhardt from the U.K), and several other funds from prominent investors.

Speaking on the funds raised, Founder and Managing Partner of Global Ventures Noor Sweid said,

“We are thrilled to welcome Almouneer to the Global Ventures portfolio and lead the company’s seed round. Over the years, we have had the privilege of working with a stellar group of healthcare entrepreneurs who are materially improving the lives of patients worldwide, enhancing access, quality, and cost of care. Noha and Rania are now part of this group. 

“We are excited to work alongside them as they leverage their specialized expertise across business-building and chronic care to tackle a prevalent health issue across, the Middle East and/Africa. On its mission to become the lifelong companion of diabetic patients in the region, Almouneer is a unique and necessary innovation.”

Almouneer disclosed that the funds secured will be primarily allocated to support the development and expansion of DRU, which it characterizes as the “first patient-centric, digitally-enabled lifestyle and diabetes management platform in the Middle East and Africa”. 

The platform plays a critical role in diabetes, pre-diabetes, and obesity prevention and management by connecting patients with doctors and an extensive network of healthcare providers through its app.

The startup co-founder and CEO Noha Khater added that the seed investment will assist in attracting top talent to join Almouneer. 

With the MEA region having a high level of obesity and pre-diabetes, affecting over 40% of its population, Noha said the firm is exploring potential product expansion into neighboring markets across Africa and the Middle East to address these problems.

Saudi Arabia, the UAE, Nigeria, and Kenya are top of the list for possible expansion for the healthcare company next year.

Launched in 2017, Almouneer operates clinics with a special focus on chronic diseases, including diabetes, fostering trust and loyalty among over 100,000 patients in the region. 

The health-tech company intends to introduce dietary and treatment plans tailored to each patient in the coming months. This means patients can choose from individualized plans for obesity and uncontrolled diabetes that focus on lowering blood pressure and blood sugar levels.

Almouneer generates revenue through these customized plans and subscriptions. The health tech intends to subtract a percentage from the fees it charges doctors for referrals in addition to including marketplace revenue. Patients will have access to vital supplies like blood sugar strips, glucose monitors, products for caring for their limbs, and diet plans through the market.

The Giza-based startup currently serves a network of nine hospitals and clinics in Egypt. It has evolved from managing in-house digital clinics to providing essential operational support for external doctors and healthcare providers. 

The company now deploys a comprehensive practice management software system, encompassing financial management, electronic medical records, and a billing system, all seamlessly integrated.

Almouneer is on a mission to transform the healthcare experience of patients, by incorporating technology into every step of the patient’s journey and ensuring that they get the best possible care to stay healthy. 

Its services do not just empower patients but also doctors who benefit from the platform that transforms their practice to better serve their patients and maximize their patient flow and returns.