Nigerian medtech startup MDaaS Global raises over $1m in equity funding

MDaaS Global, a Lagos-based medtech startup that builds and operates diagnostic centres in Nigeria, has raised just over $1-million in equity funding, reveals a US Securities and Exchange Commission filing made yesterday (1 April).

The filing states that up to 12 investors were involved in the round which commenced on 15 March. According to the filing the total offering amount was $1 580 062, while the amount sold was $1 055 496, with $524 566 remaining to be sold.

It is not clear if the startup still intends to raise the remaining amount of $524 566.

MDaaS Global was founded in 2016 by CEO Oluwasoga Oni, CFO Genevieve Barnard Oni, supply chain manager Joe McCord and Nigeria country manager Opeyemi Ologun.

Last year, MDaaS Global raised $100 000 from Nigerian VC firm Ventures Platform

Ventureburn sought comment from Mdaas Global CEO today (2 April) on more details on the deal but had not received a response by the time of publication.

A description on MDaas Global’s LinkedIn profile states that the startup offers diagnostic services that include digital x-ray, ultrasound, mammography, as well as chemistry analysis, immunoassay and hematology.

Last September, Nigerian venture capital (VC) firm Ventures Platform invested $100 000 into MDaaS Global. The investment followed the startup’s selection last June into the first cohort of the Techstors Impact accelerator. Last year, the MIT-incubated startup was also accepted into the  Havard Innovation Labs Venture Incubation Programme.

Read more: Ventures Platform backs healthtech startup MDaaS with $100k investment

Featured image: MDaaS Global founding team, from left to right Joe McCord, Opeyemi Ologun, Genevieve Barnard Oni and Oluwasoga Oni ( Kola A. via Medium)