Saudi-based health-tech Aumet raises $7 million

Saudi Arabia-based healthcare technology startup Aumet has raised $7 million in a Pre-Series A funding round from global venture capital and private equity firms.

Aumet is an artificial intelligence-enabled business-to-business healthcare platform that offers tailored solutions to healthcare providers.

The startup uses predictive analytics to forecast the procurement of products for pharmacies, which results in significant cost savings and greater efficiencies in the supply chain of pharmacies.

Aumet serves over 10,000 pharmacies across three core markets, including Saudi Arabia, Jordan, and Egypt. The platform facilitates the exchange of data between healthcare providers, manufacturers, and distributors to enable them to make the right decisions.

Aumet plans to use the proceeds to further develop its AI capabilities, expand its reach to more pharmacies, and provide greater access to affordable healthcare products for consumers. The startup aims to secure the lives of a billion people by digitalizing the medicine and medical procurement cycle globally.

The round saw participation from healthcare investors and pharmaceutical conglomerates such as AAIC, AIJ Holdings, Hamad Ali Sagri family office, Tijah Holdings, Cigalah Group and Shorooq Partners, an early backer of Aumet in pre-seed and seed stages.