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Egypt’s online pharmacy benefits marketplace Yodawy announced Monday that it has raised $7.5 million in a Series B funding led by Global Ventures, Middle East Venture Partners, and Algebra Ventures.

Since its founding, the healthtech startup has integrated over 3,000 pharmacies, eight leading health insurance companies, and completed more than 800,000 orders.

Yodawy, has raised $7.5 million in a Series B funding round led by Middle East Venture Partners (MEVP), Global Ventures and Algebra Ventures, with participation from CVentures, P1 Ventures and Athaal Angel Investors Group.

Digital transformation has been the talk of every town the world over, namely in healthtech. Introducing tech-enabled solutions to the cob-webbed, intricate medical processes such as insurance, prescriptions and booking consultations, all in a COVID-stricken world, is now not just a luxury, but almost a necessity.

STARTUP WATCH- Egypt’s Yodawy raises USD 1 mn in Algebra-led series A funding round: Yodawy, Egypt’s largest online digital pharmacy benefits platform, has raised USD 1 mn in a series A funding round led by our friends at Algebra Ventures and CVentures (a wholly-owned subsidiary of CIB), with the participation of angel investor firm ASI Ventures

Egypt-based online pharmacy Yodawy, has raised $1 million in its Series A round led by Egypt’s Algebra Ventures and CVentures, with participation from ASI Ventures, an angel investor firm.

Egyptian medication ordering and pharmacy benefits platform Yodawy has raised US$1 million in Series A funding in order to accelerate its already impressive growth.