Nigeria’s Helium Health raises $10m in Series-A round

Nigerian healthtech Helium Health has raised $10-million in a Series-A funding round co-led by UAE-based investor Global Ventures and Singapore and Nairobi headquartered Africa Healthcare Masterfund (AAIC).

The startup made the announcement in a blog post today.

Tencent, Ohara Pharmaceutical Co, HOF Capital, Y Combinator, VentureSouq, Chrysalis Capital, Kairos Angels and Flying Doctors Healthcare Investment Company also participated in the round.

The startup, which was founded in 2016 by Dimeji Sofowora, Tito Ovia and Adegoke Olubusi (pictured above, from left to right), runs an online platform that helps hospitals and clinics to manage their electronic medical records.

Helium Health runs an online platform that helps hospitals and clinics to manage electronic medical records

The healthtech said using  the new investment it plans to expand its footprint and grow its current customer base in Nigeria, Ghana and Liberia.

It also plans to use the funding to support expansion into new markets in North Africa, East Africa, and Francophone West Africa this year.

New software products

The startup also announced today that it would be rolling out further software that it said will help hospitals to boost operational efficiency, improve revenue generation, expand health financing, monitor public health and improve health outcomes.

These include a billing and payments solution for healthcare facilities; a product that allows facilities to analyse their operational, clinical and financial performance data; a product that reduces fraud and simplifies the health insurance claims process; an app that helps healthcare facilities manage patient engagement and retention; and a telemedicine platform.

Commenting in the blog post, Olubusi said the impact of the Covid-19 pandemic is a reminder of how “critical responsive and agile health systems are to our collective wellbeing”.

“Only data and technology can produce the required responsiveness and agility to tackle health challenges of this magnitude. It has never been more imperative for Africa to build a modern and digitised healthcare system,” he said.

Featured image: Helium Health founders Dimeji Sofowora, Tito Ovia and Adegoke Olubusi (Helium Health)