Published on https://magnitt.com
Nabta Health, the Middle East’s only hybrid healthcare platform dedicated to elective, preventive women’s healthcare, has raised $1.5M in its latest angel investment round. The SEED funding was led by Basim Anwer of Regionality Group of Companies, with participation from notable angel investors including Priya Oberoi, Founding General Partner of Goddess Gaia Ventures, Dr. Sarper Tanli, Operating Partner of TVM Capital Healthcare, and Nadia Mannell, Founding General Partner of Seed South Capital. A selection of Nabta Health’s existing angel investors from its Pre-Seed round also participated in the Seed round.
Nabta Health accelerates the detection, diagnosis, and treatment of chronic diseases in women in emerging markets using a new model of hybrid healthcare. By combining the best of digital and traditional healthcare, we empower women to identify and manage chronic diseases in an accessible, affordable, and goal-oriented manner.
The Healthcare industry across MENA observed an unprecedented peak between 2019 and 2020 where capital invested in the sector grew by more than 240% YoY. A year later and the healthcare sector continues to grow where MENA-based Healthcare startups recorded an almost 30% increase in both the number of transactions closed and the volume of capital invested. While the lion’s share of funding in the past year went to digital marketplaces of medical products and services including Selfologi, Cura, Yodawy, and Valeo other anticipated innovations in Healthcare have revolved around InsurTech, Online Consultations, and Medical Record Management. With the availability of intricated technologies, propositions like Nabta Health become possible while the market-focus of the team creates a core positive impact on the communities it serves.
Over the last 12 months, Nabta Health has launched the woman-centric, goal-oriented Nabta App with Aya, established an ecosystem of health and wellness providers through a B2C marketplace, signed exclusive distribution agreements for MENA with several high profile femtech companies including viO HealthTech (previously: Fertility Focus), and established partnerships with some of the leading value- and risk-based healthcare providers in the region. Sophie Smith, Founder and CEO of Nabta Health highlighted “The femtech market is still very, very nascent in the emerging markets. Fewer than 1% of femtech companies target countries such as the UAE and Saudi, despite there being a sizeable, largely untapped market opportunity and a real human need. Nabta Health is in a unique position now to be the leader in femtech health and wearables in the GCC, and we are excited with what the future holds for us.”
Nabta Health empowers women to manage their health with privacy, autonomy, and convenience using a new model of hybrid healthcare. Today, Nabta is focused on helping women to identify and manage reversible causes of infertility. Priya Oberoi, Founding General Partner, Goddess Gaia Ventures, commented, "I invested in Nabta Health because I believe we are doing something with a higher purpose, to meet the needs of an essential and underserved market. I love Sophie’s gumption and tenacity, and it is what will drive Nabta Health forwards during this next phase of growth."
The femtech firm’s Seed financing will be used to expand Nabta Health’s product portfolio to include a number of B2B SaaS offerings and to expand its market share within the UAE. In doing so, Nabta Health is not only tapping into a lucrative financial positioning but is also championing the pre-emptive approaches to female healthcare which are often disregarded in the region. Basim Anwer, Founder, Regionality Group of Companies, said, “The global femtech market is a $22 billion market projected to grow exponentially in the next 5 years. With millions of women in the region and large gaps in affordable healthcare for women, the real question was with whom and when to invest in femtech. This question was answered with the foresight of Sophie Smith and the hybrid healthcare model of Nabta Health.” Sophie Smith, Founder and CEO of Nabta Health concluded, “We are super proud to have closed our Seed funding round. We are optimistic about Nabta Heath’s growth potential in the UAE in the near term and will be focusing our energy on our business-to-business offering, which is due to launch officially in the first half of the year; as well as elevating further our product offering on our consumer-dedicated platform.