- Ilara Health, a Kenya-based healthtech startup, has raised $4.2 million in debt-equity in a pre-Series A round to expand its operations in the country.
- DOB Equity led the $2.5 million equity round, which included the Philips Foundation and existing investors such as AAIC INVESTMENT, Angaza Capital, Black Pearl Investments, and Perivoli Innovations. Alphamundi, Kiva Capital, and Boehringer Ingelheim closed the $1.7 debt investment.
- The company plans to implement a B2B health and occupational service that will allow uninsured workers to receive care at its network of partner clinics for a set monthly fee, further expanding healthcare access for the general public.
Emilian Popa (CEO), Maximilian Mancini, and Sameer Afzal Farooq founded Ilara Health in 2019 to provide pharmaceutical products and diagnostic equipment to private clinics, thereby increasing healthcare access.
In 2019, Ilara Health began leasing diagnostic equipment to clinics. Since then, the company has developed to allow health centres to purchase pharmaceuticals and other goods, such as hospital furniture, on credit.
Popa stated that the calculated action has allowed private healthcare providers to manage well-stocked clinics that can offer patients first-rate primary care.
According to the CEO, Ilara serves 3,000 of Kenya”s 15,000 clinics. Located in residential neighbourhoods, these clinics provide easier access but are more expensive than public facilities.
Because public services may face disruptions due to equipment issues, with no assurance of immediate patient care, the startup works with several manufacturers, including the American company Butterfly Network, to provide tools such as an affordable portable ultrasound device.
Popa emphasises that this helps to make scanning services more accessible to the intended clients.
The startup, which offers clinics a monthly subscription-based practice management software for KSh1,000 ($6.25), has raised $11.7 million in total debt, equity, and grant funding since its launch.
In 2020, Ilara Health secured a $3.75 million investment to expand its diagnostic reach across Africa, two months after receiving a $1.1 million grant.