UAE's Alma Health Secures $10M in Series A Funding

• Abu Dhabi-headquartered digital healthcare company, Alma Health, has raised $10 million in a Series A funding round, led by Knuru Capital and Hambro Perks Oryx Fund.
• Alma Health was founded in 2021 by Tariq Seksek and Khaldoon Bushnaq, specializes in providing comprehensive healthcare services for individuals living with chronic conditions.
• The company operates in the UAE, Saudi Arabia, and Egypt
• The new funding will be used to accelerate growth in KSA, expand into new markets, and hire top talent.
• Alma Health aims to become a leading direct-to-patient healthcare provider focused on chronic condition management.
• The healthcare industry in the Middle East and North Africa (MENA) region has been witnessing increased innovation and investment.

UAE-based digital healthcare company, Alma Health, has successfully raised $10 million in a recent Series A funding round, co-led by Knuru Capital and Hambro Perks Oryx Fund, as reported by Forbes. The investment round attracted prominent participation from e& capital, S3 Ventures, Pinnacle Capital, and Khwarizmi Ventures, with KCP Capital acting as the financial advisor to Alma Health. The company, which currently operates in the UAE, Saudi Arabia, and Egypt, plans to utilize the newly acquired funds to accelerate its growth in Saudi Arabia, expand into new markets, and bolster its team with exceptional talent. Alma Health aims to solidify its position as a leading provider of direct-to-patient healthcare, focusing on specialized chronic condition management services.

Alma Health, founded in 2021 by Tariq Seksek and Khaldoon Bushnaq, offers comprehensive healthcare services to individuals living with chronic conditions. Leveraging its intuitive mobile application, the company provides virtual doctor consultations facilitated by licensed in-house physicians. Additionally, Alma Health offers at-home lab tests, automatic prescription renewals, and free home delivery of prescription medicines. Patients can also benefit from a second opinion on their chronic conditions, along with personalized management plans to improve their clinical outcomes. Tariq Seksek, Co-founder of Alma Health, expressed his gratitude, stating, "Alma Health is truly blessed to have touched and improved the lives of many people living with chronic conditions in the MENA region. We need to continue to innovate on our end-to-end health-tech solution with the patients at the heart of the experience."

The MENA region has witnessed a surge of innovation and transformation within the healthcare industry, attracting significant attention from investors. In March 2023, Saudi-based healthcare technology startup Aumet secured $7 million in a Pre-Series A funding round, drawing support from global venture capital and private equity firms. Similarly, Egypt-based online healthcare startup Yodawy raised $16 million in a Series B funding round in February 2023, co-led by Delivery Hero Ventures and Global Ventures, bringing its total funding to $24.5 million. These recent investments demonstrate the increasing appeal of the Middle East and North Africa (MENA) region as a hub for healthcare advancements and opportunities. Alma Health is well-positioned to capitalize on this favorable landscape and contribute to the ongoing digital healthcare revolution in the region.

Related: UAE-based Healthtech Startup Lifemost Raises $650,000 Pre-Seed Round