Nigerian healthcare data management startup, Helium Health has secured $7 million investment from Dubai-based Global Ventures. This round of funding also had participation from AAIC, China’s Tencent and Noor Sweid.
Launched in 2014, the startup was poised to digitize Nigeria’s health sector by helping hospitals transition from the paper-based records system to a smart digital system. With its software, the startup has helped many healthcare organisations to manage patient records.
Helium Health was founded by Adegoke Olubusi, Tito Ovia and Dimeji Sofowora.
Since its founding, the startup has evolved into offering a wider suite of services to its customers. For hospitals, the platform now allows them to track analytics, maintain a digital payment system and apply for loans for their facilities. The startup also allows them to have a telemedicine platform, reaching out to patients with means other than physical – a service which has seen its need increase in recent times.
Patients can view their personal health records, prescriptions and lab results as well as connect with a health team via telemedicine.
For other stakeholders, governments, multilateral agencies, and donor agencies, Helium Health connects them to datasets and insights to help them make better decisions and policies as regards the world of healthcare.
Starting with Nigeria, the startup aims to revolutionize the healthcare system on the African continent, and this new fund is only a step in that direction.
So far the startup has made some impressive feats. It has participated in the prestigious YCombinator programme, receiving $120,000 which formed part of its $2 million seed round. It has also combined with industry players like MedicPlus in 2018 and SmartDoctor in 2019.
According to its website, over 3,000 facilities, 5,000 trained professionals and 165,000 patients are already signed up for its services. It is also in partnerships with the Akwa Ibom state government.
The startup is Global Ventures first investment in a health technology firm, and the investor is betting on it in Africa.
“Only 30% of hospital visits across Africa are recorded so it’s a massive need in the market,” a representative of the VC firm said to Reuters.
May 5, 2020