Nigerian health tech startup, MDaaS raises $3 million in pre-Series A funding

Health tech startup, MDaaS Global, has raised $3 million in pre-Series A funding targeted at expanding its offerings.

The startup operates a network of tech-enabled diagnostic centers across Nigeria. According to its statement, the company will use the investment to launch BeaconOS, the proprietary technology platform it launched last year.

The seven-year-old health tech also plans to expand its healthcare network to cover all Nigerian states through a combination of company-owned and affiliate clinics.

The round was led by Aruwa Capital and Newton Partners, the latter of which was the lead investor in the health tech’s $2.3 million seed extension in 2021. MDaaS also received follow-on capital from Ventures Platform, bringing its total investment to $6.8 million.

Commenting on the investment, the founder and managing partner at Aruwa Capital Adesuwa Okunbo Rhodes, said:

Founded in 2017 by CEO Oluwasoga Oni, Opeyemi Ologun and Genevieve Oni, MDaaS offers a range of services at its diagnostic centers, including imaging such as digital x-ray and ultrasound, cardiac services like ECG and echo, and various lab services spanning chemistry analysis to immunoassay and hematology.

Since its inception, MDaaS has provided care to over 275,000 patients, leveraging its integrated care network and BeaconOS capabilities. In the past year alone, the health tech served 108,724 patients, with women constituting 60.8% of the total. Additionally, MDaaS conducted over 240,000 diagnostic tests, with chest x-rays, urinalysis and full blood count ranking among the top three procedures performed.

Patients access these facilities through the platform’s SentinelX app, which serves as a personalized care program allowing them to pay a one-time fee for yearly access to a doctor.