Yodawy, a provider of cloud-based pharmacy benefits management solutions, raised $16 million in Series B funding.
Delivery Hero Ventures led the investment round with participation from AAIC Investment, Dallah Al-Baraka, Middle East Venture Partners, C Ventures, and P1 Ventures.
This latest investment round brings the four-year-old company’s total funding raised to date to $24.5 million. The company previously announced $7.5 million in Series A funding in 2019.
Commenting on the funding news, Co-founder and CEO Karim Khashaba said, “We have built a strong network of insurance partners and employer-led medical schemes. We pretty much manage the end-to-end value chain of prescriptions, from how prescriptions are generated digitally on the doctor’s side to how payers process prescriptions, all the way to kind of a complete fulfillment infrastructure that currently manages the delivery of almost 200,000 prescriptions monthly across 30 cities in Egypt.”
According to our funding database, digital pharmacy benefits management startups have raised close to $1 billion in funding to date. More recently, MedHOK, a digital pharmacy benefits management platform, raised $77.5 million in growth equity funding from Bain Capital Ventures and Spectrum Equity.
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