SA healthtech startup secures seed investment

Syked, a South African healthtech startup has raised an undisclosed seed investment round from HaloCare.

The undisclosed funding will allow the startup to scale operations across the country and expand its current offering.

Further to this, the funding will be used to build Skyed’s operations and tech development teams.

Wandile Khumalo, Founder, and CEO comments on the funding received.

“We are extremely excited to close this round as it allows us to grow our team and capture the telemedicine market. As a young health tech company, we’re looking forward to this new partnership as we now have access to ​HaloCare, a managed care organization that specializes in comprehensive disease management services. The partnership further enables us to leverage the group’s experience in servicing funders for the past 31 years​. We now look forward to rolling out more features and improving on our current offering.” – Wandile Khumalo, Founder and CEO

The new investment round will enable Syked to further capitalize on its position as one of the leaders in the online counselling and coaching industry in South Africa where Covid-19 and its implications have seen a surge in demand for online counseling.

According to Syked, expanding its mobile product and strengthening its B2B offering is key for the startup who has managed to secure almost 3000 paid sessions since its launch in 2019.

As one of The French South African Tech Labs (FSAT) season five alumni startup, Syked has undergone tremendous growth since it won the mental health challenge in 2019 at AfricArena. The French South African Tech Labs​(FSAT Labs) is an early-stage business incubator that helps startups move from concept to customer in its practical 6-month incubation program.

Renier Kriel, CEO FSAT Labs comments on Syked’s recent achievement in securing funding.

“We are extremely proud of Wandile and the team as their hard work is being recognised by the industry. The online healthcare industry is bound to see massive growth in the coming years and Syked is perfectly positioned to capture this market. This funding will surely make them a dominant player in this growing industry.” – Renier Kriel, CEO FSAT Labs

Syked

The global pandemic has placed telemedicine in the spotlight with more people looking for alternatives ways to source counselling support adhering to social distancing measures.

As an online wellness platform, Syked provides a solution to this as it connects clients with suitable and qualified practioners catering to couselling. In addition, the platform provides users with access to useful resources and guided tools.

Their platform facilitates video consultations with various additional features for clients that provide support on their mental health and emotional journey.

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Featured image: Wandile Khumalo, founder and CEO of Skyed (Supplied)