Thursday July 25th, 2024
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Egypt-Based Healthtech Chefaa Secures $5.25 Million Investment

The investment follows Chefaa’s expansion into the Saudi Arabian market, where it is currently operational in eight cities.

Startup Scene

Egypt-Based Healthtech Chefaa Secures $5.25 Million Investment

Egyptian healthtech firm Chefaa has secured $5.25 million investment in a funding round co-led by Newtown Partners from South Africa and Global Brain from Japan. Other contributors include GMS Capital Partners LLC from the United States, Verod-Kepple Africa Ventures from Nigeria, and M3, Inc. from Japan.

Founded in 2017 by Rasha Rady and Doaa Aref, Chefaa is a female-led e-pharmacy platform with a patient-centric focus, offering an end-to-end healthcare experience. The recent funding will be utilised to strengthen Chefaa's presence in Saudi Arabia, where it has recently launched operations, and to scale various models aimed at digitizing the healthcare supply chain.

"Chefaa is uniquely positioned to transform the retail pharmaceutical supply chain in Africa,” Ryosuke Yamawaki, Partner at Verod-Kepple Africa Ventures, tells StartupScene. “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."

Chefaa's success in securing the $5.25 million investment follows its expansion into the Saudi Arabian market, where it is currently operational in eight cities. By empowering industry stakeholders and fostering compliance with treatment, Chefaa aims to lead the digital transformation of healthcare with a patient-centric and comprehensive approach.

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