Chefaa, a prominent GPS-enabled health tech startup based in Egypt, has secured $5.25 million to expedite its growth and fuel its expansion into the Saudi Arabian market, where it currently operates in eight cities.
The investment round was Co-led by Newtown partners from South Africa and Global Brain from Japan. Other investors include GMS Capital Partners LLC from the United States, Verod-Kepple Africa Ventures from Nigeria, and M3 Inc. from Japan.
Following its recent launch in Saudi Arabia, Chefaa will use the funding to enhance its presence in the kingdom and scale all models designed to digitize the supply chain.
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Also, this strategic funding will support Chefaa’s efforts to scale all models designed to digitize the supply chain and empower industry stakeholders, which inevitably reflect on users’ experiences and boost compliance with treatment.
Speaking on the investment round, Partner at VEROD-KEPPLE AFRICA VENTURES, Ryosuke (Rio) Yamawaki said,
“Chefaa is uniquely positioned to transform the retail pharmaceutical supply chain in Africa. We firmly believe that with their wide-ranging product offerings serving multiple stakeholders, Chefaa will become a critical business infrastructure for pharmaceutical supply chains in Egypt and the broader Gulf region”.
Also speaking, the CEO of Chefaa, Doaa Aref said,
“Chefaa continues to prioritize market needs in the face of continuous challenges. This has resulted in designing new services and features with our eyes on our mission and vision. We focus on measuring Chefaa’s impact as we grow. We are thrilled that our investors share our passion and believe in our vision and mission.”
Founded in 2017 by Dr. Doaa Aref and Dr. Rasha Rady, Chefaa is a female-led e-pharmacy startup with a patient-centric focus, offering an end-to-end healthcare experience.
Chefaa is designed to empower patients to live healthier and happier lives by providing compelling and comprehensive essential healthcare solutions for both individuals and entities, aiming to be the first one-stop-health solution for an end-to-end healthcare experience.
The startup enhances the quality of life for users by allowing them to easily order, schedule, and refill recurring non-insured and insured prescriptions. Chefaa’s free “Ask pharmacist” feature is available 24/7 for anyone, anywhere in Egypt, and the startup takes it very seriously to find users the medication that they need, and if not available, provide a suitable substitution.
By constantly developing its offering and business model, the startup is committed to prioritizing the health of users, while supporting local pharmacies in the process.
Chefaa currently connects over 1 million monthly active users to more than 1,100 pharmacies across Egypt & KSA and has +800K mobile app downloads.