Egyptian healthtech startup Almouneer Raises $3.6 Million
Over 40% of people in Africa and the Middle East suffer from prediabetes and obesity which are serious health issues. In Saudi Arabia, 30% of adults have diabetes, while in Egypt, the percentage is 20%.
Even more people are affected by obesity and prediabetes. However, it's critical to understand that these health issues are primarily avoidable with careful lifestyle management and observation.
An Egyptian healthtech startup, Almouneer with $3.6 million in funding led by Dubai-based Global Ventures, is ready to help change these damaging statistics. The startup will use the funding to expand its product offering and grow its team to address growing issues of prediabetes and obesity in Africa and the Middle East.
The startup will face competition from both local and global healthtech companies in its mission to improve the quality of healthcare in Africa and the Middle East. In the local market, Numan Health, a digital health platform based in Egypt, offers similar services to Almouneer. Internationally, US-based companies such as Livongo and Omada Health offer similar platforms and services.
To differentiate itself in this competitive landscape, Almouneer has to focus on creating a user-friendly and affordable platform that is tailored to the specific needs of the African and Middle Eastern markets.
Other international investors, including Proparco and Digital Africa via the Bridge Fund, Wrightwood Investments — the family office of Diane & Henry Engelhardt from the U.K. and other prominent international funds participated in the round.
